Wednesday, July 27, 2011

Akamai Technologies Inc. (NASDAQ: AKAM): Q2 2011 Earnings Roundup

Akamai Technologies Inc. (NASDAQ: AKAM) reported that its fiscal second-quarter profit rose to $47.9 million, or 25 cents a share, from $38.1 million, or 20 cents a share, in the year-earlier quarter. On an adjusted basis, the company reported earnings of 35 cents a share in the latest quarter. Revenue rose to $277 million to $245.3 million. Analysts, on average, expected the company to report earnings of 36 cents per share on revenue of $277.98 million. 

"Trends in cloud computing, Internet security, mobile connectivity, and the proliferation of online video have continued to drive our customers' online initiatives and our business success," said Paul Sagan, CEO of Akamai. "With the scale, data and software underlying the Akamai intelligent platform, combined with our deep industry expertise, we believe Akamai is uniquely capable of enabling our customers' online businesses to grow revenues and reduce costs. We continue to position Akamai to lead the next evolution of cloud computing by investing in the business to build new and innovative solutions that leverage the Company's core competencies."

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