Akamai beats revenue estimates on strong demand for cloud security services
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Oct 28 (Reuters) - Akamai Technologies Inc beat Wall Street estimates for quarterly revenue on Monday, boosted by strong demand for its cloud security services and growth in its traditional business of speeding up media content delivery through the web.
Net income rose to $137.9 million, or 84 cents per share, in the third quarter ended Sept. 30, from $107.6 million, or 64 cents per share, a year earlier.
On an adjusted basis, the company earned $1.1 per share, above estimates of $1, according to IBES data from Refinitiv.
Revenue rose 6% to $709.9 million, beating estimates of $701.27 million, according to IBES data from Refinitiv. (Reporting by Amal S in Bengaluru; Editing by Shailesh Kuber)
