Akamai’s first quarter revenue grows 51% over year ago

First quarter revenue at content acceleration and delivery network Akamai Technologies Inc. was up 51% over Q1 a year ago to $90.8 million from $60.1 million, the company reports. Q1 revenue was up 10% over Q4 revenue.

Net income on a GAPP basis in Q1 was $11.5 million vs. $14 million a year ago. 2006’s Q1 net includes equity-related compensation charges of approximately $7.1 million and an income tax provision of $9.2 million vs. $500,000 a year ago.

"We had a very strong quarter, delivering higher than expected revenue growth," said Paul Sagan, president and CEO of Akamai. "We benefited from strong demand for our core content delivery services as more and more enterprises continue to move critical business processes online, especially in the area of digital media and entertainment content."

Akamai reports that the number of customers under long-term service contracts at the end of the first quarter increased by 71 to a record 1,981, a 46% increase year-over-year.