Hot Tech stock to watch: Akamai Technologies, Inc. (NASDAQ: AKAM)

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Akamai Technologies, Inc. (NASDAQ: AKAM) stock rose 4.7% in the pre-market session of 12th Feb, 2020 (Source: Google finance) after the company posted better than expected results for the fourth quarter of FY 19. The company has reported fourth-quarter net income of $119.1 million, compared with $94 million, in the year-ago period. The company posted Non-GAAP income from operations* for the fourth quarter was $222 million, which reflects a 10% increase from fourth quarter 2018 non-GAAP income from operations of $201 million. Non-GAAP operating margin for the fourth quarter was 29%,which is up 1 percentage point from the same period last year. The company posted the  Adjusted EBITDA for the fourth quarter was $319 million, which reflects a 6% increase from fourth quarter 2018 Adjusted EBITDA of $301 million. Adjusted EBITDA margin for the fourth quarter was 41%, which is down 1 percentage point from the same period last year. The company has generated  cash from operations for the quarter of $282 million, or 37% of revenue. Cash from operations for 2019 was $1.058 billion, or 37% of revenue. Cash, cash equivalents and marketable securities stood at $2.4 billion as of December 31, 2019.

AKAM in the fourth quarter of FY 19 has reported the adjusted earnings per share of $1.23, beating the analysts’ estimates for the adjusted earnings per share of $1.13, according to analysts surveyed by FactSet. The company had reported the adjusted revenue growth of 8 percent to $772.1 million in the fourth quarter of FY 19, beating the analysts’ estimates for revenue of $749.3 million. Web Division revenue for the fourth quarter was $420 million, up 9% year-over-year. Media and Carrier Division revenue for the fourth quarter was $353 million, up 8% year-over-year. Cloud Security Solutions revenue for the fourth quarter was $238 million, up 29% year-over-year. The Revenue from Internet Platform Customers for the fourth quarter was $52 million, up 20% year-over-year

Moreover, during the quarter, U.S. revenue for the fourth quarter was $446 million, up 3% year-over-year and International revenue for the fourth quarter was $326 million, up 17% year-over-year.

Additionally, the Company had spent $43 million in the fourth quarter to repurchase 0.5 million shares of its common stock at an average price of $88.48 per share. For the full-year, the Company had spent $335 million to repurchase 4.0 million shares of its common stock at an average price of $82.90 per share. The Company had 162 million shares of common stock outstanding as of December 31, 2019.

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