Cloud services provider Akamai Technologies (AKAM) demonstrated excellent fourth quarter results. The company provides its content delivery network services and security services to Apple (AAPL), apart from other big media conglomerates and banks located worldwide. The solid growth for Akamai is all due to this big clientele.
Akamai is continuously posting solid results with positive earnings surprises since the last four quarters. The results were strong for the fourth quarter as well, with net income amounting to $80.3 million, up from $68.3 million last year. Akamai’s revenue rose 15% to $436 million in the previous quarter driven by the strong adoption of its services.
The content delivery services of Akamai are doing well, leading to strong revenue and earnings growth. Globally, Akamai operates 150,000 servers and supports its customers in delivering software updates, images and other data.
— Guru Focus