Akamai revenue rises on demand for cloud security | Reuters

Akamai Technologies Inc (AKAM.O), a provider of services that speed up delivery of content over the internet, reported a better-than-expected 7.8 percent rise in quarterly revenue, helped by higher demand for its cloud security services.

Revenue from Akamai's cloud security business, which protects websites and data centres from cyber attacks, rose 46 percent to $80.7 million for the first quarter.

The Cambridge, Massachusetts-based company is facing a slowdown in its media delivery business after two of its largest customers, which the company has not identified, recently switched to their own delivery networks.

As of Dec. 31, Akamai's customers included Apple Inc (AAPL.O), eBay Inc (EBAY.O) and Comcast Corp's (CMCSA.O) NBCUniversal.

The company's net income fell to $74.9 million, or 42 cents per share, for the quarter ended March 31, from $77.7 million, or 43 cents per share, a year earlier.

Revenue rose to $567.7 million from $526.5 million.

Excluding items, the company earned 66 cents per share.

Analysts on average had expected earnings of 63 cents per share and revenue of $563.8 million, according to Thomson Reuters I/B/E/S.

The company's shares were down 0.6 percent at $52.34 in trading after the bell on Tuesday.

(Reporting by Rishika Sadam in Bengaluru; Editing by Sriraj Kalluvila)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date: Apr 27, 2016 03:30 AM

Also Watch

IPL 2018: Royal Challengers Bangalore eye revival against Chennai Super Kings as 'Cauvery Derby' comes back to life
  • Thursday, April 26, 2018 In the Kanjarbhat community, a campaign against 'virginity tests' is slowly gaining ground
  • Tuesday, April 24, 2018 It's A Wrap: Beyond the Clouds stars Ishaan Khatter, Malavika Mohanan in conversation with Parul Sharma
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent

Also See