The security software and content delivery network company
posted June quarter profits that were in line with Street estimates, with revenues slightly higher than projected.
For the second quarter, Akamai (ticker: AKAM) had revenue of $853 million, up 7% from a year ago, or 5% when adjusted for currency fluctuations, edging the Street consensus at $846 million. The company’s guidance called for revenue of $839 million to $853 million.
Non-GAAP profits were $1.42 a share, in line with estimates, and slightly ahead of the guidance range of $1.35 to $1.40 a share. Under generally accepted accounting principles, the company earned 94 cents a share.
On an adjusted basis, earnings before interest, taxes, depreciation, and amortization (Ebitda) came in at $386 million, up 9% from a year earlier, and a little above the Street consensus at $379 million. The company also said it spent $96 million in the quarter to buy back shares.
Akamai said its security technology segment revenue hit $325 million, up 25% from a year ago, or 22% adjusted for currency. The company’s edge technology group had revenue of $528 million, down 1%, or off 4% adjusted for currency.
“Akamai’s excellent second quarter financial performance was highlighted by continued strong growth across our security solutions globally,” Akamai CEO Tom Leighton said in a statement. “As the internet has become increasingly critical to consumers and businesses, our customers have turned to us more than ever to power and protect exceptional online experiences.”
The company did not provide guidance in the release, but typically offers a detailed outlook on its post-report earnings calls.
Akamai stock was down 3.9% at $115.15 in after-hours trading. Its shares have rallied about 13% for the year to date. In Tuesday’s regular session, the stock added 0.6%, to $119.61.
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