Investing.com - Akamai (NASDAQ:AKAM) reported on Tuesday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Akamai announced earnings per share of $1.31 on revenue of $792.9M. Analysts polled by Investing.com anticipated EPS of $1.23 on revenue of $775.57M.
Akamai shares are up 23% from the beginning of the year, still down 10.80% from its 52 week high of $119.74 set on September 2. They are outperforming the S&P 500 which is up 4.95% from the start of the year.
Akamai shares lost 0.09% in after-hours trade following the report.
Akamai follows other major Technology sector earnings this month
Akamai's report follows an earnings beat by Microsoft on Tuesday, who reported EPS of $1.82 on revenue of $37.20B, compared to forecasts EPS of $1.54 on revenue of $35.76B.
Taiwan Semiconductor had beat expectations on October 14 with third quarter EPS of $0.92 on revenue of $12.4B, compared to forecast for EPS of $0.84 on revenue of $11.84B.
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