Akamai Technologies, Inc. (AKAM)

[eastunder]

AKAM Jumps 10% on Q2 Beat.

By Tiernan Ray

http://blogs.barrons.com/techtraderdaily/2012/07/25/akam-jumps-10-on-q2-beat/?mod=yahoobarrons

Shares of Akamai Technologies (AKAM) are up $2.75, or almost 10%, at $31, after the company this afternoon reported Q2 revenue and earnings per share that topped consensus estimates.

Revenue in the three months ended in June rose 20%, year over year, to $331 million, yielding EPS of 43 cents, excluding some costs.

Analysts on average were expecting $326 million and 37 cents a share.

Akamai bought back $67 million worth of its shares during the quarter, it said.

CEO Paul Sagan remarked that the quarter was “very strong” and attributed some of the sales increase to the company’s “cloud infrastructure solutions” and its content networking as well.

Akamai ended the quarter with just over $1 billion in cash and marketable securities, it said.

Akamai will host a conference call with analysts at 4:30 pm, Eastern time, and you can catch the webcast of it here.

Shares of competitor Limelight Networks (LLNW) are unchanged in late trading at $2.73.