Akamai Technologies Inc.'s Q3 Beats Views On 24& Rev Growth

Akamai Technologies Inc.

beat estimates Wednesday posting a 24 percent gain in third-quarter revenue while income increased 14 percent. The Cambridge, Mass., cloud infrastructure service company's recent period marked at least the fifth consecutive quarter of upside earnings surprises. In the after-hours session, Akami traded up more than 5 percent recently to $59.12 a share. Chief Executive F. Thomson Leighton said each of the company's product categories and regions showed strong results. The company didn't immediately offer an outlook, but posted net net income of $91 million, or $0.50 a share, up from $80 million, or $0.44 a share last year. Adjusted income equaled $0.62 a share, while revenue grew to $498 million, from $396 million a year earlier. Wall Street expected adjusted earnings of $0.57 cents a share, on revenue of $491.01 million.