Akamai releases 3Q financials

Akamai released its 3Q numbers Thursday, showing modest growth from last quarter and 22 percent revenue growth over the same quarter last year. Third-quarter revenue totaled $197.3 million compared to $194.0 the previous quarter and $161.2 million in 3Q2007.

"We delivered solid earnings and revenue growth in an increasingly difficult environment, and year-to-date we've generated a quarter of a billion dollars in cash flow from operations," said Paul Sagan, president and CEO of Akamai. "We continued to experience strong growth in our newer solutions, such as application performance services and dynamic site acceleration, and we're excited about the introduction of Akamai's Advertising Decision Solutions product line complemented by the announcement of the pending acquisition of acerno."

The acerno acquisition, the value of which was not released, should give Akamai additional revenue streams from targeted advertising once the deal is completed at the end of 4Q. Its partnership with Microsoft to stream HD programming is another revenue stream to watch for as Akamai enters 2009.

The company appears well-positioned to weather any dramatic economic downturn, as it has $789 million of cash and cash equivalents at its disposal, according to the report. 

For more:
- see the Akamai release here 

Related articles
Akamai buys acerno, gets targeted ads
Microsoft and Akamai join forces for streaming HD