April 30, 2019 / 8:03 PM / 2 months ago

Akamai beats revenue estimates on cyber-security strength

April 30 (Reuters) - Akamai Technologies Inc beat analysts’ estimates for first-quarter revenue on Tuesday, powered by demand for its cyber-security services and its traditional business of helping speed up content delivery on the web.

Revenue from the security business, which helps data centers operate and deliver content securely, jumped 27 percent to $190 million in the quarter.

The company’s media and carrier division, which includes media delivery business, posted a 5 percent rise in revenue, boosted by more people using their smartphones and computers to download games, videos and software from the internet.

Net income rose to $107.1 million, or 65 cents per share, in the three months ended March 31, from $53.71 million, or 31 cents per share, a year earlier.

Revenue rose 5.7 percent to $706.5 million.

Analysts on average expected the company to post revenue of $698.3 million, according to IBES data from Refinitiv.

Reporting by Vibhuti Sharma in Bengaluru; Editing by Sriraj Kalluvila

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