Akamai revenue beats Street as media delivery product demand surges

Reuters News
Posted: Feb 10, 2015 4:22 PM

(Reuters) - Akamai Technologies Inc reported quarterly revenue and profit above average analyst estimates due to higher demand for its services that speed up delivery of video and data over the Internet.

Revenue in the media delivery solutions unit, which accounted for nearly half of total revenue, rose about 20.6 percent to $250.1 million.

Total revenue jumped 23 percent to $536.3 million for the company whose customers include Microsoft Corp, Apple Inc and Nintendo Co.

Net income rose to $97.1 million, or 54 cents per share, in the fourth quarter ended Dec. 31, from $80.3 million, or 44 cents per share.

Excluding a tax benefit of 5 cents per share, Akamai earned 65 cents per share on an adjusted basis.

Analysts on average had expected a profit of 63 cents per share on revenue of $526.8 million, according to Thomson Reuters I/B/E/S

(Reporting By Subrat Patnaik in Bengaluru; Editing by Joyjeet Das)