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Akamai Technologies: Q4 Earnings Snapshot
By AP News - Feb 20, 2025, 04:32 PM ET
Last Updated - Feb 20, 2025, 04:32 PM EST
CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — Akamai Technologies Inc. (AKAM) on Thursday reported fourth-quarter earnings of $139.9 million.
On a per-share basis, the Cambridge, Massachusetts-based company said it had profit of 91 cents. Earnings, adjusted for stock option expense and amortization costs, were $1.66 per share.
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The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.
The cloud services provider posted revenue of $1.02 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $1.01 billion.
For the year, the company reported profit of $504.9 million, or $3.27 per share. Revenue was reported as $3.99 billion.
For the current quarter ending in March, Akamai Technologies expects its per-share earnings to range from $1.54 to $1.59.
The company said it expects revenue in the range of $1 billion to $1.02 billion for the fiscal first quarter.
Akamai Technologies expects full-year earnings in the range of $6 to $6.40 per share, with revenue ranging from $4 billion to $4.2 billion.
Akamai Technologies shares have risen 2.5% since the beginning of the year, while the S&P's 500 index has risen 4%. In the final minutes of trading on Thursday, shares hit $98.03, a fall of 9.5% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AKAM at https://www.zacks.com/ap/AKAM
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