CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — Akamai Technologies Inc. (AKAM) on Thursday reported first-quarter profit of $106.3 million.
On a per-share basis, the Cambridge, Massachusetts-based company said it had profit of 71 cents. Earnings, adjusted for one-time gains and costs, were $1.61 per share.
The results met Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for earnings of $1.61 per share.
The cloud services provider posted revenue of $1.07 billion in the period, also meeting Street forecasts.
For the current quarter ending in June, Akamai Technologies expects its per-share earnings to range from $1.45 to $1.65.
The company said it expects revenue in the range of $1.08 billion to $1.1 billion for the fiscal second quarter.
Akamai Technologies expects full-year earnings in the range of $6.40 to $7.15 per share, with revenue ranging from $4.45 billion to $4.55 billion.
Akamai Technologies shares have increased 34% since the beginning of the year, while the S&P's 500 index has climbed 7%. In the final minutes of trading on Thursday, shares hit $116.77, a rise of 41% in the last 12 months.
_____
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
/Intel%20Corp_%20badge%20holder-by%20hasrul_rais%20via%20Shutterstock.jpg)
/Advanced%20Micro%20Devices%20Inc_%20logo%20on%20phone%20and%20website-by%20T_Schneider%20via%20Shutterstock.jpg)
/Palantir%20by%20Hiroshi-Mori-Stock%20via%20Shutterstock.jpg)
/The%20Shopify%20logo%20on%20a%20smartphone%20screen%20by%20IB%20Photography%20%20via%20Shutterstock.jpg)