Akamai Technologies: 4Q Earnings Snapshot

·1 min read

CAMBRIDGE, Mass. (AP) _ Akamai Technologies Inc. (AKAM) on Tuesday reported fourth-quarter net income of $113.4 million.

On a per-share basis, the Cambridge, Massachusetts-based company said it had profit of 68 cents. Earnings, adjusted for one-time gains and costs, were $1.33 per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.

The cloud services provider posted revenue of $846.3 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $830.5 million.

For the year, the company reported profit of $557.1 million, or $3.37 per share. Revenue was reported as $3.2 billion.

Akamai Technologies shares have climbed 12% since the beginning of the year, while the Standard & Poor's 500 index has increased 4%. In the final minutes of trading on Tuesday, shares hit $117.97, an increase of 23% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AKAM at https://www.zacks.com/ap/AKAM