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Akamai Technologies Inc. (AKAM) Is Heading Lower After Q4 Report

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Akamai Technologies Inc. (AKAM: Quote) reported fourth quarter normalized net income of $0.54 per share after the close Wednesday, up from $0.45 per share a year ago. The consensus estimate was for EPS of $0.50. The Company also announced today that its Board of Directors has authorized a $150 million extension of its share repurchase program. The stock is now down 3.03 on 449K shares.

Akamai Technologies climbed in early trade Wednesday, but settled into a range for the bulk of the session. Shares finished up by 0.53 at $41.58 on above average volume. The stock closed near the upper end of a month and a half long range.

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by RTT Staff Writer

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