Akamai quarterly revenue rises 7.7 percent

Reuters News
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Posted: Feb 06, 2018 4:16 PM

(Reuters) - Akamai Technologies Inc <AKAM.O> reported a 7.7 percent rise in quarterly revenue on Tuesday as the company benefited from higher demand for its cloud security services.

However, the company's net income fell to $19.1 million, or 11 cents per share, in the fourth quarter ended Dec. 31, from $91.6 million, or 52 cents per share, a year earlier.

The fourth quarter was impacted by a $52 million restructuring charge and a $26 million provisional charge associated with the U.S. tax code overhaul.

Revenue rose to $663.5 million from $616.1 million.

(Reporting by Sonam Rai and Arjun Panchadar in Bengaluru; Editing by Sriraj Kalluvila)