Akamai Provides Updated Guidance for the Fourth Quarter 2009
CAMBRIDGE, Mass. Akamai Technologies, Inc. (NASDAQ: AKAM), the leader in powering video, dynamic transactions and enterprise applications online, announced today that it has increased its fourth quarter 2009 guidance for both revenue and profit, and will provide further commentary at today’s Financial Analyst Day at The Renaissance Boston Waterfront Hotel in Boston, Massachusetts.
Revised Fourth Quarter 2009 Guidance
Akamai now expects revenue for the fourth quarter to be in the range of $230 to $235 million, or 8 to 11 percent growth from the fourth quarter of 2008, and normalized earnings to be in the range of $0.42 to $0.43 per fully diluted share. Akamai previously provided an estimate of fourth quarter 2009 revenue to be in the range of $217 to $224 million or 2 to 5 percent growth, and fourth quarter normalized earnings per fully diluted share of $0.39 to $0.41.
“The first two months of the fourth quarter tracked above our expectations,” said JD Sherman, CFO of Akamai. “We have been seeing stronger volume growth this quarter as compared to the same quarter last year in our commerce and media verticals, and we anticipate this trend will continue through the end of the year.”
As required by Securities and Exchange Commission Regulation G, the equivalent GAAP earnings associated with our normalized earnings per share estimate provided above is expected to be in the range of $0.19 to $0.20 per fully diluted share.
Financial Analyst Day Webcast
A live webcast of Akamai’s Financial Analyst Day will be available at: www.akamai.com/analyst. In addition, an archive of the webcast will be available following the event for a limited period of time.
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