Akamai Reports Q2

Revenue for Q2 2009 was $204.6M, a 5% increase over Q2 2008 revenue of $194.0M

July 29, 2009

1 Min Read

CAMBRIDGE, Mass. -- Akamai Technologies, Inc. (NASDAQ: AKAM - News):

Akamai Technologies, Inc. (NASDAQ: AKAM - News), the leader in powering rich media, dynamic transactions and enterprise applications online, today reported financial results for the second quarter ended June 30, 2009. Revenue for the second quarter 2009 was $204.6 million, a 5 percent increase over second quarter 2008 revenue of $194.0 million, and a 3 percent decrease from first quarter 2009 revenue of $210.4 million.

Net income in accordance with United States Generally Accepted Accounting Principles, or GAAP, for the second quarter of 2009 was $36.0 million, or $0.19 per diluted share, a 5 percent increase over second quarter 2008 GAAP net income of $34.3 million, or $0.19 per diluted share, and a 3 percent decrease from first quarter 2009 GAAP net income of $37.1 million, or $0.20 per diluted share.

The Company generated normalized net income* of $75.3 million, or $0.40 per diluted share, in the second quarter of 2009, a 2 percent decrease from second quarter 2008 normalized net income of $76.5 million, or $0.41 per diluted share, and down 7 percent from the first quarter 2009 normalized net income of $80.5 million, or $0.43 per diluted share. (*See Use of Non-GAAP Financial Measures below for definitions.)

“Our operating performance reflects solid execution in the face of difficult market conditions for many of our clients,” said Paul Sagan, president and CEO of Akamai. “In today's challenging environment, our scale and strong balance sheet give us the flexibility to support changing customer requirements, particularly in the media and entertainment vertical where traffic growth has been accelerating. Further, we continued to experience good traction with our newer, value-added solutions, such as application performance services and dynamic site acceleration.”

Akamai Technologies Inc. (Nasdaq: AKAM)

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