Akamai Reports First Quarter 2013 Financial Results
Contacts:
Jeff Young
Media Relations
Akamai Technologies
617-444-3913
jyoung@akamai.com --or-- Natalie Temple
Investor Relations
Akamai Technologies
617-444-3635
ntemple@akamai.com
View a print-friendly version here.
First quarter revenue of $368 million, up 15 percent year-over-year, or up 18 percent year-over-year adjusted for ADS divestiture*
First quarter GAAP net income of $71 million, up 65 percent year-over-year, or $0.39 per diluted share, up 63 percent year-over-year (includes $15 million, or $0.08 per diluted share, tax and depreciation benefit)
First quarter non-GAAP net income* of $93 million, up 43 percent year-over-year, or $0.51 per diluted share, up 42 percent year-over-year (includes $15 million, or $0.08 per diluted share, tax and depreciation benefit)
CAMBRIDGE, Mass. April 24, 2013 Akamai Technologies, Inc. (NASDAQ: AKAM), the leading cloud platform for helping enterprises provide secure, high-performing user experiences on any device, anywhere, today reported financial results for the first quarter ended March 31, 2013. Revenue for the first quarter of 2013 was $368 million, a 15 percent increase over first quarter 2012 revenue of $319 million, or up 18 percent adjusted for the Advertising Decision Solutions (ADS) divestiture*.
Net income in accordance with United States Generally Accepted Accounting Principles, or GAAP, for the first quarter of 2013 was $71 million, or $0.39 per diluted share, a 5 percent increase over the prior quarters GAAP net income of $68 million, or $0.38 per diluted share, and a 65 percent increase over first quarter 2012 GAAP net income of $43 million, or $0.24 per diluted share.
The Company generated non-GAAP net income* of $93 million, or $0.51 per diluted share, in the first quarter of 2013, a 4 percent increase over the prior quarters non-GAAP net income of $90 million, or $0.50 per diluted share, and a 43 percent increase over first quarter 2012 non-GAAP net income of $65 million, or $0.36 per diluted share.
Both GAAP and non-GAAP net income results include a $15 million, or $0.08 per diluted share, benefit from the retroactive reinstatement of the 2012 federal R&D tax credit and change in our depreciation methodology effective on January 1, 2013.
We are very pleased with our first quarter results, delivering better than expected revenue growth and EPS expansion, said Tom Leighton, CEO of Akamai. We saw strong acceleration in our media delivery solutions, made further traction in our management of network costs, and continued our investments to capitalize on what we see as the opportunities and megatrends shaping online business: cloud, mobile, video and security.
Adjusted EBITDA* for the first quarter of 2013 was $166 million, down from $173 million in the prior quarter, and up from $143 million in the first quarter of 2012. Adjusted EBITDA margin* for the first quarter of 2013 was 45 percent, down a point from the prior quarter and consistent with the same period last year.
Cash from operations for the first quarter of 2013 was $103 million, or 28 percent of revenue, down a point from the same period last year. At the end of the first quarter of 2013, the Company had over $1 billion of cash, cash equivalents and marketable securities.
Sales through resellers and sales outside the United States accounted for 20 percent and 30 percent, respectively, of revenue for the first quarter of 2013.
Share Repurchase Program
During the first quarter of 2013, under a share repurchase program that was extended by the Board of Directors in February 2013, the Company spent approximately $40 million repurchasing 1.1 million shares of its common stock, at an average price of $36.79 per share. The Company has $119 million remaining on its current authorization, which runs through January 31, 2014.
The Company had approximately 178 million shares of common stock outstanding as of March 31, 2013.
(*See Use of Non-GAAP Financial Measures below for definitions.)
Quarterly Conference Call
Akamai will host a conference call today at 4:30 p.m. ET that can be accessed through 1-866-383-8009 (or 1-617-597-5342 for international calls) and using passcode No. 99675413. A live Webcast of the call may be accessed at www.akamai.com in the Investor section. In addition, a replay of the call will be available for one week following the conference through the Akamai Website or by calling 1-888-286-8010 (or 1-617-801-6888 for international calls) and using passcode No. 71184323.
About Akamai
Akamai is the leading cloud platform for helping enterprises provide secure, high-performing user experiences on any device, anywhere. At the core of the Companys solutions is the Akamai Intelligent Platform providing extensive reach, coupled with unmatched reliability, security, visibility and expertise. Akamai removes the complexities of connecting the increasingly mobile world, supporting 24/7 consumer demand, and enabling enterprises to securely leverage the cloud. To learn more about how Akamai is accelerating the pace of innovation in a hyperconnected world, please visit www.akamai.com or blogs.akamai.com, and follow @Akamai on Twitter.
Financial Statements
*Use of Non-GAAP Financial Measures
In addition to providing financial measurements based on generally accepted accounting principles in the United States of America (GAAP), Akamai provides additional financial metrics that are not prepared in accordance with GAAP (non-GAAP). Management uses non-GAAP financial measures, in addition to GAAP financial measures, to understand and compare operating results across accounting periods, for financial and operational decision making, for planning and forecasting purposes and to evaluate Akamais financial performance.
Management believes that
Most recent headlines
04/08/2024
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet, a leading technology and service provider for media-rich organizations, a...
07/05/2024
The ability for line-of-site tactical voice and data networks to seamlessly traverse over Satellite Communications is an emerging requirement to assure warfight...
07/05/2024
On April 5, 2024, the L3Harris Avionics Products Repair Station (NN2R037L) in Gr...
07/05/2024
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
07/05/2024
Share this article
width=32 height=32 loading=lazy data-lazy-src=https://apogeedigital.com/app/themes/juniper-theme/src/img/icons/facebook-purple.svg />
wid...
07/05/2024
BURBANK, Calif. The Walt Disney Company has finally delivered some from profits from its hefty streaming investments, with the second quarter of its fiscal year...
07/05/2024
Bonnie Hammer, vice chair of NBCUniversal, and Jen Psaki, MSNBC host, read from their new books at the 92nd Street Y in Manhattan Wednesday, May 8. Hammer's...
07/05/2024
Paramount Plus has ordered the series Crutch, a comedy that is a spinoff of CBS comedy The Neighborhood. Tracy Morgan stars....
07/05/2024
Edward J. and Melody Thomas Scott and Lidia Bastianich will receive Lifetime Achievement honors at the 51st annual Daytime Emmy Awards in June, the National Aca...
07/05/2024
The 2024 Giants of Broadcasting & Electronic Arts luncheon and awards ceremony happens in New York November 12, and the honorees are Al Roker, weather and featu...
07/05/2024
Dabl Network has added The Wayans Bros., The Jamie Foxx Show, Living Single and Everybody Hates Chris to its weekday and weekend lineups. Those shows join the l...
07/05/2024
After winning a proxy fight, The Walt Disney Co. said its entertainment business turned a profit and added subscribers in its fiscal second quarter....
07/05/2024
NBA Entertainment is closing out the second season of its series Pass the Rock with a look at Victor Wembanyama of the San Antonio Spurs, the league's rooki...
07/05/2024
Syncbak, which provides stations with streaming capabilities, said it is rebranding as Zeam Media....
07/05/2024
Samsung has made a deal with Magnolia Pictures that will bring titles from Magnolia to the Samsung TV Plus free streaming platform....
07/05/2024
Amazon, which has added commercials to Amazon Prime Video, is rolling out new interactive ad formats that will enable advertisers to engage streamers and sell s...
07/05/2024
Syncbak, a 15 year-old provider of streaming tech for local broadcast stations has rebranded itself, adopting the name of its streaming service launched in Febr...
07/05/2024
POST Luxembourgs journey with TAG Video underscores how finding a vendor who und...
07/05/2024
PORTSMOUTH, N.H. New findings from Hub Entertainment Research provides extensive data showing that the majority of consumers will opt for lower cost ad-supporte...
07/05/2024
NEW YORK The Library of American Broadcasting Foundation (LABF) has announced th...
07/05/2024
CBS News has named Lindsey Reiser an anchor and correspondent for CBS News 24/7, the network's live, streaming news service. Reiser, who was most recently a...
07/05/2024
NEEDHAM, Mass. After more than two years of decline, worldwide tablet shipments posted modest year-over-year growth of 0.5% in the first quarter of 2024 (1Q24),...
07/05/2024
ESPN is reporting that April was a record-setting month as the network delivered its best April prime time audience on record, dating back more than 30 years....
07/05/2024
WASHINGTON, D.C. The National Association of Broadcasters (NAB) has announced that Kirsten Donaldson has joined NAB as vice president of public policy. Donaldso...
07/05/2024
The Bulls are back home again this week from May 7-12! Don't miss out on any...
07/05/2024
Back to All News
Five New Games Join Netflix in May
Netflix Staff
Entertainment
07 May 2024
Global
Link copied to clipboard
Five new games are launching ...
07/05/2024
Back to All News
Top 10 Week of Apr. 29: Baby Reindeer' Holds Strong; Hee...
07/05/2024
Home News & Press Blancco Wins 2024 SEAL Business Sustainability Award
Blancco Wins 2024 SEAL Business Sustainability Award May 07, 2024
Blancco's v...
07/05/2024
CUPERTINO, CALIFORNIA Apple today unveiled the all-new Logic Pro for iPad 2 and Logic Pro for Mac 11, delivering breakthrough professional experiences for songw...
07/05/2024
Apple's new Privacy Manifest requirement mandates that apps explicitly disclose the privacy-related data they collect, the purposes for this collection, and...
07/05/2024
Taylor Swift's Eras Tour arrives to shake up EuropeHaving shaken four continents, Taylor Swift's Eras Tour finally brings the biggest pop culture icon o...
07/05/2024
Isiphetho: Destiny' beats Scandal!'E.tv's latest telenovela Isiphetho: Destiny' beat the channel's longest running soapie, Scandal!' ...
07/05/2024
Now there's HELP for ex-prisoners to find work in South AfricaNew initiative for ex-prisoners to find work in South Africa proves it's never too late fo...
07/05/2024
Tonight on Scandal: Cohen is pulled into keeping a secretDon't miss Tuesday, 7 May's riveting episode of South African soapie Scandal! on e.tv on DStv c...
07/05/2024
Skeem Saam: Monday's episode, 6 May 2024 [video]Missed an episode of Skeem Saam? No problem! Watch the latest episode of your favourite South African soapie...
06/05/2024
By Ilyse McKimmie
Now, more than ever
That's a phrase so often used in the last few years that I've come to dread seeing it in notes like this one. A...
06/05/2024
alt= class=wp-image-12099 data-lazy-src=/wp-content/uploads/2024/05/Blog-Exabyte-Storage-Demand-960x540-1.jpg/> Demand for storage solutions has reached unprece...
06/05/2024
Around the world, Asian and Pacific Islander (API) artists continue to impact mu...
06/05/2024
Spotify is making it easier for booklovers to count down the days, hours, minutes, and seconds until a new audiobook releases. With Countdown Pages for audioboo...
06/05/2024
Get Ready to join Dan Hong as he hits the streets in his ultimate culinary journ...
06/05/2024
In this video, cinematographer Simon Rowling welcomes viewers behind the scenes as he lights a daytime-interior scene inside a coffee shop. Shooting on Panavisi...
06/05/2024
L3Harris is well positioned to support the complex and multifaceted nature of special operations forces in all domains through our agile and responsive technolo...
06/05/2024
OAKVILLE, Ontario As part of Emergency Preparedness Week, Alert Ready, Canadas national public alerting system, will be distributing a test alert to Canadians i...
06/05/2024
NEW ROCHELLE, N.Y. Horowitz Research has released a new study on the viewing and media habits of U.S. Hispanic/Latine audiences that shows a dramatic decline in...
06/05/2024
RE:Vision Effects Autograph 2024.4 released! 50% Off Through May 9th
Brie Clayton May 6, 2024
0 Comments
New game-changing motion graphics & VFX featu...
06/05/2024
NBC has renewed Night Court for a third season. The courtroom comedy was on the network from 1984 to 1992, and NBC rebooted it in early 2023....
06/05/2024
ABC has revealed its summer schedule. The Bachelorette gets going Monday, July 8, with Jenn Tran the star in season 21. Celebrity Family Feud starts up Tuesday,...
Akamai Reports First Quarter 2013 Financial Results 
