Earnings: Akamai Q1 Up 34 Percent; Income Up 49 Percent

This story was written by Joseph Weisenthal.
Still not succumbing to a price war, Akamai (NSDQ: AKAM) reported Q1 revenue of $187 million, up 34 percent year-over-year from $139.2 million. On a sequential basis, it was up 2 percent. On an adjusted basis, the company earned $75.6 million ($.41 per share), up 49 percent from $50.7 million ($.28 per share). The total customer base increased 8 percent to 2,672. The company said it feels as though the fundamentals of its business are strong enough, such that it can weather a down economy. However, the markets were looking for a bit more and the stock is off just under 4 percent in today's trading.

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By Joseph Weisenthal