Investing.com - Akamai reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Akamai announced earnings per share of $1.2 on revenue of $764.3M (NYSE:MMM). Analysts polled by Investing.com anticipated EPS of $1.15 on revenue of $749.78M. That with comparison to EPS of $1.1 on revenue of $706.51M in the same period a year before.Akamai had reported EPS of $1.23 on revenue of $772.12M in the previous quarter.Analysts are expecting EPS of $1.17 and revenue of $754.11M in the upcoming quarter.
Akamai shares are up 18% from the beginning of the year and are trading at $103.50 , down-from-52-week-high.They are outperforming the S&P 500 which is down 11.74% year to date.
Akamai shares gained 1.54% in after-hours trade the report.
Akamai follows other major Technology sector earnings this month
Akamai's report follows an earnings missed by Alphabet C on Tuesday, who reported EPS of $9.87 on revenue of $41.16B, compared to forecasts EPS of $10.26 on revenue of $40.99B.
Taiwan Semiconductor had matched expectations on Saturday with first quarter EPS of $0.75 on revenue of $10.35B, compared to forecast for EPS of $0.75 on revenue of $10.32B.
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