CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — Akamai Technologies Inc. (AKAM) on Thursday reported second-quarter profit of $103.6 million.
The Cambridge, Massachusetts-based company said it had net income of 71 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to $1.73 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.
The cloud services provider posted revenue of $1.04 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $1.02 billion.
For the current quarter ending in September, Akamai Technologies expects its per-share earnings to range from $1.62 to $1.66.
The company said it expects revenue in the range of $1.03 billion to $1.05 billion for the fiscal third quarter.
Akamai Technologies expects full-year earnings in the range of $6.60 to $6.80 per share, with revenue ranging from $4.14 billion to $4.21 billion.
Akamai Technologies shares have decreased 22% since the beginning of the year, while the S&P's 500 index has increased nearly 8%. In the final minutes of trading on Thursday, shares hit $74.76, a fall of 19% 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
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