Research Desk Line-up: VeriSign Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 3, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Akamai Technologies, Inc. (NASDAQ: AKAM), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=AKAM, following the Company's posting of its second quarter fiscal 2017 financial results on July 25, 2017. The cloud services provider's revenue grew 6% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Internet Information Providers industry. Pro-TD has currently selected VeriSign, Inc. (NASDAQ: VRSN) for due-diligence and potential coverage as the Company reported on July 27, 2017, its financial results for Q2 2017. Register for a free membership today, and be among the early birds that get access to our report on VeriSign when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on AKAM; also brushing on VRSN. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=AKAM

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Earnings Reviewed

For the three months ended June 30, 2017, Akamai's revenue was $608.91 million, reflecting a 6% gain over Q2 2016 revenue of $572.14 million. The Company's revenue grew 7% when adjusted for foreign exchange. Akamai's revenue numbers surpassed Wall Street's estimates of $604.3 million.

For Q2 2017, Akamai's GAAP income from operations was $87.21 million, down 21% compared to operating income of $110.18 million in Q2 2016. The Company's GAAP operating margin for the reported quarter was 14%, down 5% on a y-o-y basis. Akamai's non-GAAP income from operations was $147 million, down 6% on a y-o-y basis and non-GAAP operating margin for the reported quarter was 24%, down 3% compared to the year ago corresponding period.

Akamai's GAAP net income was $57.77 million, or $0.33 per diluted share, for Q2 2017 compared to net income of $73.64 million, or $0.43 per share, for Q2 2016. The Company's y-o-y GAAP EPS growth rate, when adjusted for both foreign exchange and the dilutive impact of the Company's acquisition of Soasta, Inc., was a gain of 1%.

Akamai's non-GAAP EPS for Q2 2017 totaled $0.62 per diluted share, down 3% on a y-o-y basis and flat excluding foreign exchange impact. The Company's earnings numbers exceeded analysts' consensus estimates of $0.62 per share. Akamai's adjusted EBITDA was $224 million for Q2 2017, down 3% on a y-o-y basis, while adjusted EBITDA margin totaled 37%, down 3% compared to the year ago same period.

Segment Results

During Q2 2017, Akamai's Web Division generated revenue of $314.99 million, up 15% on a y-o-y basis and 16% post adjustment for foreign exchange. The Company's Media Division recorded revenue of $276.07 million, down 2% on a y-o-y basis, and declining 1% when adjusted for foreign exchange. Akamai's Enterprise and Carrier Division revenue totaled $18 million for the reported quarter, growing 9% on a y-o-y basis and 10% on a constant currency basis.

During Q2 2017, Akamai's Performance and Security Solutions revenue came in at $375.81 million, up 15% on a y-o-y basis and up 16% excluding foreign exchange impact. The Cloud Security Solutions revenue, a component of Performance and Security, totaled $115 million in the reported quarter, up 32% on a y-o-y basis and 34% when adjusted for foreign exchange. Akamai's Media Delivery Solutions revenue totaled $179 million, down 9% on a y-o-y basis. The Company's Services and Support Solutions revenue came in at $54 million, up 12% on a y-o-y and 13% on a constant currency basis.

On a geographical basis, Akamai's revenue generated from the US totaled $403 million, up 2% on a y-o-y basis, while its international revenue surged 16% to $206 million on a y-o-y basis.

Akamai's revenue from Internet Platform Customers declined 17% to $51 million on a y-o-y basis. The Company's revenue excluding Internet Platform Customers was $558 million, up 9% on a y-o-y basis and 10% on a constant currency basis.

Cash Matters

During Q2 2017, Akamai's cash from operations was $224.63 million compared to cash flow from operations of $244.37 million in Q2 2016. As of June 30, 2017, the Company's cash, cash equivalents, and marketable securities were $1.4 billion.

During Q2 2017, Akamai spent $105 million to repurchase 2.0 million shares of its common stock at an average price of $52.06 per share. The Company had approximately 172 million shares of common stock outstanding as of June 30, 2017.

Stock Performance

At the close of trading session on Wednesday, August 02, 2017, Akamai Technologies' stock price slightly fell 0.04% to end the day at $47.51. A total volume of 1.76 million shares were exchanged during the session. The Company's shares are trading at a PE ratio of 27.13. At Wednesday's closing price, the stock's net capitalization stands at $8.06 billion.

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