Akamai stock falls 10% after mixed Q1 earnings

akamai-stock-falls-10%-after-mixed-q1-earnings

Akamai Technologies Inc. AKAM, +1.33% stock fell more than 10% in after-hours trading Tuesday after the cybersecurity and computing company reported a mixed first quarter. Akamai said it earned $119 million, or 73 cents a share, in the quarter, compared with $156 million, or 94 cents a share, in the year-ago quarter. Adjusted for one-time items, Akamai earned $1.39 a share. Revenue rose 7% to $904 million, the company said. FactSet consensus called for EPS of $1.42 on sales of $904 million. Chief Executive Tom Leighton highlighted the largely in-line performance “despite a challenging global environment and the headwinds associated with the strengthening U.S. dollar.” Shares of Akamai ended the regular trading day up 1.3%.

Source: Marketwatch

Related Posts