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Akamai reports a 23% revenue increase for Q3
The e-commerce technology vendor also increased its customer base by 13%.
Akamai Technologies Inc., which sells web site performance and content delivery services, this week said that revenues for the third quarter ended Sept. 30 increased 23% from the same period last year.
For the third quarter, the technology vendor reports:
• Revenue of $253.6 million, a 22.8% increase from $206.5 million for the third quarter of 2009.
• Net income of $39.7 million, a 21.4% increase from $32.7 million.
• Sales outside the United States accounted for 28% of revenues, the same as for the third quarter of last year.
• 3,438 customers under recurring contract, a 13.4% increase from 3,031 for the same period last year.
"Akamai performed very well in the third quarter, and we believe we have solid momentum heading into our seasonally strongest quarter of the year," says CEO Paul Sagan. "We continued to make key investments to support our customers' online businesses and successfully meet the growing demand we have been seeing for our portfolio of cloud-based services."
For the nine months ended Sept. 30, Akamai reports:
• Revenue of $738.9 million, an 18.8% % increase from $621.5 million for the same period last year.
• Net income of $118.7 million, a 12.2% increase from $105.8 million last year.
Akamai was by far the leading content delivery network listed in the current issue of the Internet Retailer Top 500 Guide, named by 125 of the retailers in the 2010 edition of the guide, which ranks North American retailers by their online sales.