Akamai Technologies (AKAM) Releases Earnings Results, Beats Expectations By $0.03 EPS

Akamai Technologies (AKAM) reported quarterly earnings results on Tuesday, Apr-26-2016. The company said it had a profit of $0.66 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.63. The company posted revenue of $567.73 million in the period, compared to analysts expectations of $564.26 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS.

Many Wall Street Analysts have commented on Akamai Technologies. RBC Capital Mkts Initiated Akamai Technologies on Mar 24, 2016 to “Sector Perform”, Price Target of the shares are set at $62.Akamai Technologies was Initiated by Stifel to “Hold” on Mar 24, 2016. Shares were Reiterated by MKM Partners on Feb 16, 2016 to “Buy” and Lowered the Price Target to $ 69 from a previous price target of $77 .

Akamai Technologies closed down -0.23 points or -0.45% at $51.13 with 29,87,927 shares getting traded on Friday. Post opening the session at $51.26, the shares hit an intraday low of $50.64 and an intraday high of $51.81 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Apr 18, 2016, F Thomson Leighton (CEO) purchased 19,546 shares at $51.15 per share price. According to the SEC, on Apr 4, 2016, Melanie Haratunian (EVP and General Counsel) sold 10,419 shares at $54.66 per share price. On Mar 14, 2016, James Gemmell (EVP & Chief HR Officer) sold 1,998 shares at $55.26 per share price, according to the Form-4 filing with the securities and exchange commission.

Akamai Technologies Inc. is a provider of cloud services for delivering optimizing and securing online content and business applications. Its solutions include delivery of conventional content on Websites tools that support the delivery and operation of cloud-based applications as well as security solutions and live and on-demand streaming video capabilities. The Company’s solutions include Media Delivery Solutions Performance and Security Solutions and Service and Support Solutions. Media Delivery Solutions are designed to enable enterprises to execute their digital media distribution strategies. Performance and Security Solutions are designed to utilize the Company’s core content and application delivery technologies of the Company to make the Internet work better. Service and Support Solutions offer professional services and solutions.

Akamai Technologies

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