CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — Akamai Technologies Inc. (AKAM) on Tuesday reported first-quarter earnings of $97.1 million.
The Cambridge, Massachusetts-based company said it had profit of 62 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.40 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.
The cloud services provider posted revenue of $915.7 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $910.3 million.
For the current quarter ending in June, Akamai Technologies expects its per-share earnings to range from $1.38 to $1.42.
The company said it expects revenue in the range of $923 million to $937 million for the fiscal second quarter.
Akamai Technologies expects full-year earnings in the range of $5.69 to $5.84 per share, with revenue ranging from $3.74 billion to $3.79 billion.
Akamai Technologies shares have declined slightly more than 6% since the beginning of the year, while the S&P's 500 index has climbed slightly more than 7%. In the final minutes of trading on Tuesday, shares hit $78.90, a decrease of 17% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a AKAM">Zacks stock report on AKAM at https://www.zacks.com/ap/AKAM