Akamai Q4 revenue rises 8%

Akamai has been focusing on its security unit as its traditional business of speeding up delivery of video and other content on the web has come under pressure with large media customers such as Apple Inc and Amazon.com Inc building their own networks. (Reuters pic)

CAMBRIDGE: Akamai Technologies reported an 8% rise in fourth-quarter revenue on Tuesday, driven by stronger demand for both its cyber-security services and its traditional business of speeding up media content delivery on the web.

The company’s net income rose to US$94.0 million, or 57 cents per share, in the quarter ended Dec 31 from US$27.5 million, or 16 cents per share, a year earlier.

Akamai recorded a US$26 million provisional charge associated with the US tax law changes in the last year.

Revenue rose to US$713.4 million from US$658.5 million. Analysts on average expected the company to post revenue of US$703.7 million, according to IBES data from Refinitiv.