Akamai Technologies Inc Q3 Profit Increases, beats estimates

(RTTNews) - Akamai Technologies Inc (AKAM) released earnings for its third quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $160.54 million, or $1.04 per share. This compares with $123.69 million, or $0.78 per share, in last year's third quarter.

Excluding items, Akamai Technologies Inc reported adjusted earnings of $251.07 million or $1.63 per share for the period.

Analysts on average had expected the company to earn $1.50 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.5% to $965.48 million from $881.90 million last year.

Akamai Technologies Inc earnings at a glance (GAAP) :

-Earnings (Q3): $160.54 Mln. vs. $123.69 Mln. last year. -EPS (Q3): $1.04 vs. $0.78 last year. -Analyst Estimate: $1.50 -Revenue (Q3): $965.48 Mln vs. $881.90 Mln last year.

-Guidance: Next quarter EPS guidance: $1.57 - $1.62 Next quarter revenue guidance: $985 - $1005 Mln Full year EPS guidance: $6.08 - $6.13 Full year revenue guidance: $3802 - $3822 Mln