Earnings: Akamai Beats Expectations; Adds New Customers
This story was written by Rory Maher.
A rare positive Q408 earnings report from a digital companytoday Akamai (NSDQ: AKAM) Technologies reported results for the quarter ending December 31, 2008 ahead of analyst expectations, indicating the company is maintaining market share despite increased competition.
Revenue of $212.6 million beat expectations of $205 million and grew 8 percent over the fourth quarter 2008.
EBITDA of $100 million beat expectations of $90 million and grew 11 percent over the fourth quarter 2008.
Earnings per share of $0.44 versus expectations of $0.41.
Continued competition from the growing number of players in the CDN space will likely put pressure on the company's market share in 2009, but there were only positive signs in the quarter as the number of customers increased by 50 over the previous year's quarter, or 8 percent.
Release | Webcast (4:30 PM EDT)
By Rory Maher