Akamai Technologies Inc Q1 Profit Decreases, misses estimates

(RTTNews) - Akamai Technologies Inc (AKAM) reported a profit for first quarter that decreased from last year and missed the Street estimates.

The company's earnings came in at $119.16 million, or $0.73 per share. This compares with $155.70 million, or $0.94 per share, in last year's first quarter.

Excluding items, Akamai Technologies Inc reported adjusted earnings of $224.80 million or $1.39 per share for the period.

Analysts on average had expected the company to earn $1.42 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.2% to $903.65 million from $842.71 million last year.

Akamai Technologies Inc earnings at a glance (GAAP) :

-Earnings (Q1): $119.16 Mln. vs. $155.70 Mln. last year. -EPS (Q1): $0.73 vs. $0.94 last year. -Analyst Estimates: $1.42 -Revenue (Q1): $903.65 Mln vs. $842.71 Mln last year.