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.
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