Akamai Q1 revenue up 13 percent year-over-year

Akamai Technologies exceeded analysts' expectations for the second quarter running, posting a first-quarter profit of $37.1 million on $210.4 million in revenue. While the profit was basically flat from the same quarter in 2008 when Akamai made $36.9 million, revenue was up a healthy 13 percent from $187 million in Q1 2008. Revenue was slightly down from the fourth quarter of 2008, falling $2.2 million from that $212.6 million take.

Most analysts had expected a profit of 40 cents per share excluding special items; the company reported a profit of 43 cents per share, before stock option expenses and amortization charges. Akamai also announced that it increased long-term contract customers by 10 percent, and authorized a $100 million stock buyback related to compensation package stock grants to employees. 

For more:
- see the Business Week article here 

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