Akamai (AKAM) Shares Slammed as Q2 Results Miss Expectations
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Price: $110.42 +0.30%
Financial Fact:
Interest expense: -4.67M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Interest expense: -4.67M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Akamai (Nasdaq: AKAM) shares are getting slammed after hours Wednesday following a second-quarter earnings miss.
Revenue increased 0.4 percent to $276.99 million, shy of the $277.98 million expected on the Street.
Net income in the quarter fell 5.3 percent to $47.92 million, or 25 cents per share. Adjusting for certain items, earnings were 35 cents per share, a penny shy of the 36 cents expected.
Adjusted EBITDA came in 13 percent better to $126.2 million.
"Trends in cloud computing, Internet security, mobile connectivity, and the proliferation of online video have continued to drive our customers' online initiatives and our business succes," CEO Paul Sagan commented. "We continue to position Akamai to lead the next evolution of cloud computing by investing in the business to build new and innovative solutions that leverage the Company's core competencies."
Akamai is 13 percent lower in post-market action. The stock last traded at $25.50.
Revenue increased 0.4 percent to $276.99 million, shy of the $277.98 million expected on the Street.
Net income in the quarter fell 5.3 percent to $47.92 million, or 25 cents per share. Adjusting for certain items, earnings were 35 cents per share, a penny shy of the 36 cents expected.
Adjusted EBITDA came in 13 percent better to $126.2 million.
"Trends in cloud computing, Internet security, mobile connectivity, and the proliferation of online video have continued to drive our customers' online initiatives and our business succes," CEO Paul Sagan commented. "We continue to position Akamai to lead the next evolution of cloud computing by investing in the business to build new and innovative solutions that leverage the Company's core competencies."
Akamai is 13 percent lower in post-market action. The stock last traded at $25.50.
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