Akamai Q4 Beats on EPS, Misses on Revenue Expectations
Akamai Technologies on Wednesday reported its Q4 and 2012 results. For the quarter, revenue rose 17% on a year-over-year basis to $378 million. Non-GAAP net profit came in at $98 million ($0.54 per diluted share), or 18% higher than Q4 2011's figure of $83 million ($0.45).
On average, analysts had been expecting $382 million in revenue and EPS of $0.50.
For the full year, the company posted a top line of $1.4 billion, against the $1.2 billion of fiscal 2011. Net profit was $329 million ($1.81 diluted EPS), a roughly 16% improvement over 2011's result of $285 million.
Akamai also announced its board has authorized a $150 million extension of its share buyback program. That extension is to be in force for one year dating from Feb. 1, 2013. During 2012, the company spent approximately $141 million repurchasing 4.4 million shares of its common stock, at an average price of $32.45 per share.
The article Akamai Q4 Beats on EPS, Misses on Revenue Expectations originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Akamai. The Motley Fool has no position in Akamai. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.