Akamai Technologies Earnings: Here’s Why the Stock is Up Now
Akamai Technologies Inc. (NASDAQ:AKAM) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.21%.
Akamai Technologies Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 24.32% to $0.46 in the quarter versus EPS of $0.37 in the year-earlier quarter.
Revenue: Rose 14.12% to $378.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Akamai Technologies Inc. reported adjusted EPS income of $0.46 per share. By that measure, the company met the mean analyst estimate of $0.46. It beat the average revenue estimate of $374.15 million.
Quoting Management: “Akamai delivered a strong second quarter, achieving the high end of our guidance range for both the top and bottom line,” said Tom Leighton, CEO of Akamai. “We were especially pleased with the strong growth in our performance and security solutions, and we continue to invest in both sales capacity and innovation in an effort to drive further growth in this important area.”
Key Stats (on next page)…
Revenue increased 2.73% from $368.05 million in the previous quarter. EPS decreased 9.8% from $0.51 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.45 to a profit $0.47. For the current year, the average estimate has moved up from a profit of $1.86 to a profit of $1.95 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)