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Akamai Posts Q3

Revenue grew to $197.3M, up 22 percent year-over-year

October 30, 2008

1 Min Read

CAMBRIDGE, Mass. -- Akamai Technologies, Inc. (NASDAQ: AKAM - News), the leader in powering rich media, dynamic transactions and enterprise applications online, today reported financial results for the third quarter ended September 30, 2008. Revenue for the third quarter 2008 was $197.3 million, a 22 percent increase over third quarter 2007 revenue of $161.2 million, and a two percent increase over second quarter 2008 revenue of $194.0 million.

Net income in accordance with United States Generally Accepted Accounting Principles, or GAAP, for the third quarter of 2008 was $33.4 million, or $0.18 per diluted share.

The Company generated normalized net income of $74.2 million, or $0.40 per normalized diluted share, in the third quarter of 2008, a 19 percent improvement over 2007 third quarter normalized earnings of $62.4 million, or $0.34 per diluted share, and down slightly compared to the second quarter 2008 normalized net income of $76.5 million, or $0.41 per diluted share.

“We delivered solid earnings and revenue growth in an increasingly difficult environment, and year-to-date we’ve generated a quarter of a billion dollars in cash flow from operations,” said Paul Sagan, president and CEO of Akamai. “We continued to experience strong growth in our newer solutions, such as application performance services and dynamic site acceleration, and we’re excited about the introduction of Akamai’s Advertising Decision Solutions product line complemented by the announcement of the pending acquisition of acerno.”

Akamai Technologies Inc. (Nasdaq: AKAM)

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