CAMBRIDGE, Mass. (AP) _ Akamai Technologies Inc. (AKAM) on Tuesday reported first-quarter earnings of $119.2 million.
On a per-share basis, the Cambridge, Massachusetts-based company said it had net income of 73 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to $1.39 per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.
The cloud services provider posted revenue of $903.6 million in the period, also missing Street forecasts. Eight analysts surveyed by Zacks expected $905.2 million.
Akamai Technologies shares have fallen roughly 3% since the beginning of the year, while the S&P's 500 index has declined 12%. In the final minutes of trading on Tuesday, shares hit $113.85, an increase of slightly more than 6% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AKAM at https://www.zacks.com/ap/AKAM
