The Akamai Earnings Surge (AKAM)

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By Jon C. Ogg Published
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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

Contact [email protected] for any questions or corrections.

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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