CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — Akamai Technologies Inc. (AKAM) on Thursday reported third-quarter earnings of $140.2 million.
The Cambridge, Massachusetts-based company said it had net income of 97 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.86 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.64 per share.
The cloud services provider posted revenue of $1.05 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $1.04 billion.
For the current quarter ending in December, Akamai Technologies expects its per-share earnings to range from $1.65 to $1.85.
The company said it expects revenue in the range of $1.07 billion to $1.09 billion for the fiscal fourth quarter.
Akamai Technologies expects full-year earnings in the range of $6.93 to $7.13 per share, with revenue ranging from $4.18 billion to $4.2 billion.
Akamai Technologies shares have declined 24% since the beginning of the year, while the S&P’s 500 index has risen 14%. In the final minutes of trading on Thursday, shares hit $73, a decline of 30% 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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