Akamai Technologies Inc.’s (NASDAQ: AKAM) turned in an earnings report for its fourth quarter growing 14% and naming a new chief financial officer. Profit rose to $60.1 million or $0.33 EPS, but outside of items the non-GAAP figure is $0.45 EPS; revenues rose by about 14% to $323.7 million. Prior guidance was $0.37 EPS to $0.41 EPS (non-GAAP) on sales of $303 to $315 million. Thomson Reuters had estimates of $0.40 EPS on $311.26 million in sales.
Gross margin fell a bit to 68.3% from 69.7%, but the 2% gain to $34.44 in normal trading has jumped far more to up 12% at $38.70 in the after-hours trading session.
With a 52-week range of $18.25 to $49.38, traders and investors may say that Akamai has more room to run again. They may even dust off some of those old acquisition target rumors.
JON C. OGG