August 8, 2008, 12:00 AM

Q2 revenue at Akamai Technologies grows 27%

Second-quarter revenue at Akamai Technologies, a provider of web content delivery services, rose 27% year-over-year to $194 million, as the number of customers increased 6% to more than 2,700.

Katie Evans

Managing Editor, International Research

Revenue at Akamai Technologies Inc., a provider of Internet content delivery services, rose 27% to $194 million for the second quarter ended June 30, up from $152.7 million a year earlier, as the number of customers rose 6% to more than 2,700, the company says.

GAAP net income for the quarter rose 58.6% to $34.3 million from $21.6 million a year ago. GAAP stands for generally accepted accounting principles.

Non-GAAP net income, which Akamai refers to as “normalized net income,” grew 38% to $76.5 million from $55.4 million. Non-GAAP income excludes $17 million in stock-related compensation and other expenses.

For the six months ended June 30, Akamai reported a 30.5% rise in revenue to $381 million from $292 million in the year-ago period, as GAAP net income increased 74.5% to $71.2 million from $40.8 million. Non-GAAP income for the six months, which excludes $28.2 million in stock-based compensation and other expenses, rose 43.2% year-over-year to $152.1 million from $106.2 million.

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