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Akamai Technologies: Q2 Earnings Snapshot
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CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — Akamai Technologies Inc. (AKAM) on Thursday reported second-quarter profit of $79.4 million.

On a per-share basis, the Cambridge, Massachusetts-based company said it had profit of 52 cents. Earnings, adjusted for one-time gains and costs, came to $1.59 per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.

The cloud services provider posted revenue of $1.1 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $1.09 billion.

For the current quarter ending in September, Akamai Technologies expects its per-share earnings to range from $1.60 to $1.80.

The company said it expects revenue in the range of $1.11 billion to $1.13 billion for the fiscal third quarter.

Akamai Technologies expects full-year earnings in the range of $6.40 to $7.05 per share, with revenue ranging from $4.45 billion to $4.53 billion.

Akamai Technologies shares have risen 35% since the beginning of the year, while the S&P's 500 index has increased 13%. In the final minutes of trading on Thursday, shares hit $117.85, a rise of 58% 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

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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