Shares of Akamai Technologies Inc. (AKAM, Financial) were lower on Wednesday after reporting second-quarter earnings per share of 83 cents on revenue of $662.76 million on Tuesday. The company beat earnings estimates by 3 cents and revenue estimates by $0.78 million.
"We are very pleased with our second quarter performance, highlighted by outstanding growth in our security portfolio, further improvement in our Media and Carrier Division, overall margin expansion and very strong non-GAAP earnings growth of 34% year-over-year,"Ă‚ Dr. Tom Leighton,Ă‚ CEO, said.
Web Division revenue was $351 million, up 11% year over year, and Media and Carrier Division revenue was $312 million, up 8%. Cloud Security Solutions revenue was $155 million, up 33%, and revenue from Internet Platform Customers was $44 million, down 14%. Revenue excluding Internet Platform Customers was $619 million, up 12%.
By geography, U.S. revenue was $413 million, up 3%,Ă‚ and International revenue was $250 million, up 21%.
Adjusted earnings before interest, taxes, depreciation and amortization was $262 million, an 18% increase from second-quarter 2017. The adjusted EBITDA margin was 39%, an increase of 2 percentage points.
The Cheesecake Factory Inc.(CAKE, Financial) traded lower on Wednesday after reporting second-quarter earnings per share of 65 cents on revenue of $593.18 million. The company fell short of earnings estimates by 16 cents and revenue expectations by $1.02 million.
The board of directors declared a quarterly cash dividend of 33 cents per share. During the quarter, the company repurchased approximately 140,000 shares of its common stock at a cost of $7.1 million.
Shares of Frontier Communications Corp. (FTR, Financial) slid Wednesday after reporting a second-quarter loss of 80 cents per share on revenue of $2.16 billion. The company fell8 cents of earnings estimates, but revenue expectations were in line.
Looking ahead, the company expects adjusted EBITDA of $3.6 billion, capital expenditures between $1 billion and $1.15 billion and operating free cash flow of $800 million.
Disclosure: The author holds no positions in any stocks mentioned.
