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Akamai Technologies: Q3 Earnings Snapshot
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CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — Akamai Technologies Inc. (AKAM) on Thursday reported third-quarter earnings of $117.1 million.

The Cambridge, Massachusetts-based company said it had profit of 77 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to $1.77 per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.67 per share.

The cloud services provider posted revenue of $1.12 billion in the period, which met Street forecasts.

For the current quarter ending in December, Akamai Technologies expects its per-share earnings to range from $1.50 to $1.70.

The company said it expects revenue in the range of $1.15 billion to $1.17 billion for the fiscal fourth quarter.

Akamai Technologies expects full-year earnings in the range of $6.47 to $6.68 per share, with revenue ranging from $4.44 billion to $4.47 billion.

Akamai Technologies shares have decreased 11% since the beginning of the year, while the S&P's 500 index has risen slightly more than 7%. In the final minutes of trading on Thursday, shares hit $77.84, a rise of nearly 7% 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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