Stock Monitor: Care.com Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 01, 2018 / Active-Investors.com has just released a free earnings report on Akamai Technologies, Inc. (NASDAQ: AKAM) ("Akamai"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=AKAM. The Company reported its fourth quarter fiscal 2017 operating and financial results on February 06, 2018. The cloud services provider's revenues grew 8% on a y-o-y basis. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Akamai Technologies most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For the fourth quarter of the fiscal year 2017, Akamai's revenues gained 8% to $663 million versus revenues of $616 million in Q4 2016. The Company's revenue numbers topped analysts' estimates of $647.9 million.
For the full year FY17, Akamai's total revenues were $2.50 billion compared to $2.34 billion for FY16, up 7% on a y-o-y basis.
During Q4 2017, Akamai's GAAP income from operations was $28 million, reflecting a 77% decrease from $124 million in Q4 2016. The Company's reported quarter results were impacted by a restructuring charge of $52 million and a charge due to the release of an indemnification asset related to a 2012 acquisition of $16 million. Akamai's GAAP operating margin was 4% for Q4 2017, down 16% on a y-o-y basis. The Company's non-GAAP income from operations was $155 million for the reported quarter, down 11% from the $174 million reported in the prior year's same quarter.
Akamai's GAAP net income was $19 million, or $0.11 per diluted share, for Q4 2017; a 79% decrease from $92 million, or $0.52 per diluted share, in Q4 2016. Apart from the aforementioned charges, the Company's reported quarter results were also impacted by a provisional charge associated with the recently-enacted US Tax Cuts and Jobs Act 2017 (TCJA) of $26 million, or $0.15 per share.
Akamai's non-GAAP net income was $118 million, or $0.69 per diluted share, in Q4 2017 compared to $126 million, or $0.72 per diluted share, in Q4 2016. The Company's earnings beat Wall Street's estimates of $0.63 per share.
For FY17, the Company's full-year GAAP net income was $218 million, or $1.26 per diluted share, compared to $316 million, or $1.79 per diluted share, in FY16. The Company's non-GAAP net income was $453 million, or $2.62 per diluted share, in FY17 compared to $476 million, or $2.70 per diluted share, in FY16.
Revenue Details
Customer Revenue by Division - During Q4 2017, Akamai's Web Division revenues jumped 17% to $355 million compared to $328 million in Q4 2016. The Company's Media Division revenues were $284 million for the reported quarter, down 3% from $273 million in the year ago same period. Akamai's Enterprise and Carrier Division revenues surged 24% to $24 million on a y-o-y basis for Q4 2017.
Revenue by Solution Category - During Q4 2017, Akamai's Performance and Security Solutions revenues advanced 13% to $416 million on a y-o-y basis compared to $381 million in Q4 2016. The Cloud Security Solutions revenues, a component of Performance and Security Solutions revenues, were $135 million for the reported quarter, up 32% on a y-o-y basis. Akamai's Media Delivery Solutions revenues were $190 million for Q4 2017, down 3% from $183 million in the year earlier comparable quarter. The Company's Service and Support Solutions revenues jumped 9% to $57 million on a y-o-y basis for the reported quarter.
Revenue by Geography - During Q4 2017, Akamai's revenues from US grew 1% to $430 million on a y-o-y basis compared to $409 million in Q4 2016. The Company's International revenues were $234 million for the reported quarter, reflecting a 21% increase compared to $213 million in the prior year's corresponding quarter.
Revenue from Internet Platform Customers - For Q4 2017, Akamai's revenues from Internet Platform Customers dropped 15% to $50 million on a y-o-y basis. The Company's revenues, excluding Internet Platform Customers, were $614 million for the reported quarter, up 10% compared to $571 million in the year earlier same quarter.
Cash Matters
Akamai's cash flow from operating activities was $197 million, or 30% of revenues, for Q4 2017, and $801 million, or 32% of revenues, for FY17. The Company's cash, cash equivalents, and marketable securities were $1.3 billion at December 31, 2017.
During Q4 2017, Akamai spent $55 million to repurchase 1.0 million shares of its common stock at an average price of $52.23 per share. For FY17, the Company spent $361 million to repurchase 6.9 million shares of its common stock at an average price of $52.59 per share. Akamai had approximately 170 million shares of common stock outstanding as of December 31, 2017.
Stock Performance Snapshot
February 28, 2018 - At Wednesday's closing bell, Akamai Technologies' stock declined 1.14%, ending the trading session at $67.46.
Volume traded for the day: 1.04 million shares.
Stock performance in the last month - up 0.31%; previous three-month period - up 21.88%; past twelve-month period - up 7.76%; and year-to-date - up 3.72%
After yesterday's close, Akamai Technologies' market cap was at $11.22 billion.
Price to Earnings (P/E) ratio was at 47.78.
The stock is part of the Technology sector, categorized under the Internet Information Providers industry.
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