Akamai Grows in Q3
Page 1 of 1
Akamai Technologies, Inc. (NASDAQ: AKAM), reported third quarter fiscal 2011 earnings on Wednesday, showing once again that their model for content delivery networking and security works.
Today's enterprises are operating in a world where consumers and workers no longer go online. They simply are online," Akamai CEO Paul Sagan said during the company's earnings call. "We're living and working in a hyper-connected word, and it's changing the way the organizations interact with nearly everyone."
For the quarter, Akamai reported revenue of $281.9 million, which is an 11 percent year-over-year gain. Net Income was reported at $42.3 million ($0.23 per share) up by 6 percent over the third quarter of 2010.
Looking forward, Akamai provided fourth quarter 2011 guidance for revenue in the range of $303 million to $315 million, which would represent a 6 to 11 percent year-over-year gain.
"Online video growth still remains slightly below the expectations we had at the beginning of the year, but we have seen some positive signs as we head into Q4," Akamai CFO J. D. Sherman said during the company's earnings call. "The fourth quarter is generally our strongest seasonal quarter, driven by online retail and advertising, as well as seasonal traffic growth from media and entertainment."