Akamai Technologies, Inc (NASDAQ:AKAM) announced 20% boost in revenue, assisted by strong adoption of its cloud infrastructure service.
The internet content delivery company reported that revenue for the company, which fights with Level 3 Communications, Inc (NYSE:LVLT) and Limelight Networks, moved up to $331 million.
Akamai announced a profit of $44.2 million or 24 cents per share, low from a profit of $47.9 million or 25 cents per share in previous year. Without stock-based rewards and other items, per-share earnings moved up to 43 cents from 35 cents.
The company reported that revenue climbed 20% to $331.3 million. The corporation estimate earnings of 36 cents to 38 cents per share on revenue of $322 million to $330 million in April.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Limelight Networks, Inc (NASDAQ:LLNW) rose +2.25% to settle at $2.73, InterNAP Network Services (NASDAQ:INAP) moved down -0.80% to end at $6.20 while Digital River, Inc (NASDAQ:DRIV) decrease -0.06% to finish on Wednesday at $16.81.
Akamai Technologies, Inc (NASDAQ:AKAM) last session volume of 5.12 million shares was higher than its average volume of 2.61 million shares. The stock after opening at $28.66 hit high price of $28.84 and then closed at $28.25 by scoring -0.48%.
AKAM generated revenue of 1.20 billion in the following twelve months and earned $193.51 million. The Company showed a positive 16.10% in the net profit margin and as well as in its operating margin which remained 24.08%. Company’s annual sales growth for the past five year was 22.00%.
The AKAM past twelve months price to sales ratio was 4.21 and price to cash ratio remained 12.51. As far as the returns are concern, the AKAM return on equity was recorded as 8.77% and increased 8.59% return on investment while its return on asset stayed at 8.08%.
The stock showed weekly downbeat performance of -5.58% which was maintained for the month at -6.08%. Likewise the negative performance for the quarter was recorded as -27.10% and for the year was -7.95% while the YTD performance remained at -12.48%.
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