• Akamai Technologies: 4Q Earnings Snapshot

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    CAMBRIDGE, Mass. (AP) _ Akamai Technologies Inc. (AKAM) on Tuesday reported fourth-quarter earnings of $94 million.

    The Cambridge, Massachusetts-based company said it had net income of 57 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to $1.07 per share.

    The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1 per share.

    The cloud services provider posted revenue of $713.4 million in the period, also topping Street forecasts. Eleven analysts surveyed by Zacks expected $703.7 million.

    For the year, the company reported profit of $298.4 million, or $1.76 per share. Revenue was reported as $2.71 billion.

    Akamai Technologies shares have climbed 14 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 9.5 percent. In the final minutes of trading on Tuesday, shares hit $69.33, an increase of almost 7 percent 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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