CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — Akamai Technologies Inc. (AKAM) on Thursday reported fourth-quarter net income of $85.1 million.
On a per-share basis, the Cambridge, Massachusetts-based company said it had net income of 58 cents. Earnings, adjusted for stock option expense and restructuring costs, were $1.84 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.75 per share.
The cloud services provider posted revenue of $1.09 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $1.08 billion.
For the year, the company reported profit of $452 million, or $3.07 per share. Revenue was reported as $4.21 billion.
For the current quarter ending in March, Akamai Technologies expects its per-share earnings to range from $1.50 to $1.67.
The company said it expects revenue in the range of $1.06 billion to $1.09 billion for the fiscal first quarter.
Akamai Technologies expects full-year earnings in the range of $6.20 to $7.20 per share, with revenue ranging from $4.4 billion to $4.55 billion.
Akamai Technologies shares have increased 26% since the beginning of the year, while the S&P’s 500 index has stayed nearly flat. In the final minutes of trading on Thursday, shares hit $109.59, an increase of slightly more than 9% 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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