CAMBRIDGE, Mass. (AP) 鈥� CAMBRIDGE, Mass. (AP) 鈥� Akamai Technologies Inc. (AKAM) on Thursday reported second-quarter profit of $79.4 million.
On a per-share basis, the Cambridge, Massachusetts-based company said it had profit of 52 cents. Earnings, adjusted for one-time gains and costs, came to $1.59 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.
The cloud services provider posted revenue of $1.1 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $1.09 billion.
For the current quarter ending in September, Akamai Technologies expects its per-share earnings to range from $1.60 to $1.80.
The company said it expects revenue in the range of $1.11 billion to $1.13 billion for the fiscal third quarter.
Akamai Technologies expects full-year earnings in the range of $6.40 to $7.05 per share, with revenue ranging from $4.45 billion to $4.53 billion.
Akamai Technologies shares have risen 35% since the beginning of the year, while the S&P’s 500 index has increased 13%. In the final minutes of trading on Thursday, shares hit $117.85, a rise of 58% in the last 12 months.
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