Akamai Technologies (AKAM) reported third-quarter earnings and revenue that topped Wall Street targets amid a shift to higher-margin products. For the quarter ending Sept. 30, Akamai earnings rose 29% to $1.63 an adjusted share. Revenue climbed 9% to $965 million, said the Cambridge, Mass.-based company. ""The last few quarters have seen marked improvement in execution, which we believe comes from a variety of factors,"" said Raymond James analyst Frank Louthan. ""First, there have been some leadership changes over the last year that we believe have helped the company get traction, particularly in the security space. Secondly, the company has some new bundled products, allowing them to sell various security products to smaller customers."" Akamai is the biggest provider of content delivery network services. In addition, Akamai has expanded into cybersecurity services and edge computing, extending cloud services closer to where data is generated.
Akamai Technologies (AKAM) reported third-quarter earnings and revenue that topped Wall Street targets amid a shift to higher-margin products. For the quarter ending Sept. 30, Akamai earnings rose 29% to $1.63 an adjusted share. Revenue climbed 9% to $965 million, said the Cambridge, Mass.-based company. ""The last few quarters have seen marked improvement in execution, which we believe comes from a variety of factors,"" said Raymond James analyst Frank Louthan. ""First, there have been some leadership changes over the last year that we believe have helped the company get traction, particularly in the security space. Secondly, the company has some new bundled products, allowing them to sell various security products to smaller customers."" Akamai is the biggest provider of content delivery network services. In addition, Akamai has expanded into cybersecurity services and edge computing, extending cloud services closer to where data is generated.