Akamai quarterly revenue rises 8 percent


(Reuters) – Akamai Technologies Inc reported an 8 percent rise in fourth-quarter revenue on Tuesday, driven by stronger demand for both its cyber-security services and its traditional business of speeding up media content delivery on the web.

The company’s net income rose to $94.0 million, or 57 cents per share, in the quarter ended Dec. 31 from $27.5 million, or 16 cents per share, a year earlier. Akamai recorded a $26 million provisional charge associated with the U.S. tax law changes in the last year.

Revenue rose to $713.4 million from $658.5 million. Analysts on average expected the company to post revenue of $703.7 million, according to IBES data from Refinitiv.

Reporting by Vibhuti Sharma in Bengaluru; Editing by Anil D’Silva

Read the Full Story here