Akamai Technologies Inc. (NASDAQ:AKAM) shares are trending on Friday.
AKAM shares jumped 29.62% to $151.25 after the bell on Thursday after the cybersecurity and cloud computing company announced first-quarter financial results topping analyst estimates in both revenue and earnings per share.
What You Need To Know?
Akamai reported first-quarter revenue of $1.074 billion for the period ended Mar. 31, beating the analyst estimate by 0.17%. It was up 6% year-over-year.
The company reported earnings per share of $1.61, surpassing estimates by 8.78%. Akamai has now exceeded EPS expectations for six straight quarters.
The headline mover was a seven-year, $1.8 billion commitment from a leading frontier model provider for Akamai’s Cloud Infrastructure Services. CEO Dr. Tom Leighton called it validation of Akamai’s role as “a key infrastructure provider in the AI economy.”
Akamai …
This post was originally published here
