Akamai Technologies (NASDAQ:AKAM) reported Q2 EPS of $0.35, ex-items, missing consensus estimates of $0.36 per share. Revenues for the quarter rose 13% year-over-year to $277.0 million, missing consensus estimates of $277.98 million.
Paul Sagan, CEO of Akamai said, "Trends in cloud computing, Internet security, mobile connectivity, and the proliferation of online video have continued to drive our customers' online initiatives and our business success. With the scale, data and software underlying the Akamai intelligent platform, combined with our deep industry expertise, we believe Akamai is uniquely capable of enabling our customers' online businesses to grow revenues and reduce costs. We continue to position Akamai to lead the next evolution of cloud computing by investing in the business to build new and innovative solutions that leverage the Company's core competencies."
Akamai Technologies has a potential upside of 44.1% based on a current price of $29.49 and an average consensus analyst price target of $42.5.