Akamai Earnings: AKAM Stock 3% Higher After Surpassing Q4 Estimates

Akamai (NASDAQ:AKAM) earnings for the American tech company’s fourth quarter of 2019 have AKAM stock heading higher after-hours Tuesday. This is thanks to its adjusted earnings per share (EPS) of $1.23, which comes in above Wall Street’s estimate of $1.13 per share. Also, revenue of $772 million also blows past analysts’ estimates of $749.28 million.

Akamai Earnings: AKAM Stock 2% Higher After Surpassing Q4 Estimates

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Here’s a more in-depth look at the most recent Akamai earnings report.

  • Adjusted EPS for the quarter are up 14.95% from $1.07 in the fourth quarter of 2018.
  • Revenue comes in 8.28% higher than the $713 million reported during the same time last year.
  • Operating income of $135 million is a 12.5% increase compared to $120 million in Q4 of the previous year.
  • The Akamai earnings report also has it bringing in a net income of $119 million.
  • That’s a 26.6% increase over the $94 million in net income from the same period of the year prior.

Dr. Tom Leighton, CEO of Akamai, had this to say about the AKAM stock earnings report:

“We were very pleased with our 2019 performance. Both revenue and earnings exceeded our expectations due to the rapid growth of our cloud security business, robust seasonal traffic on our network and our continued focus on operational excellence.”

The Akamai earnings report doesn’t reveal its outlook for 2020. However, we know what Wall Street is estimating. That includes adjusted per-share earnings of $4.79 on revenue of $3.08 billion during the year.

AKAM stock is up more than 3% after market hours.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/02/akamai-earnings-bump-akam-stock-up/.

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