Akamai profit up by double digits

Internet acceleration-and-management firm Akamai announced on Wednesday that the company's fourth-quarter profit exceeded analysts' estimates, climbing 13% year-to-year. As announced in November, the company will lay off 110.

The company reported Q4 revenues of $212.6 million, an increase of $15.3 million (8%) from Q3 and a year-to-year increase of $29.4 million (16%) year-over-year. Total revenue for fiscal year 2008 was $790.9 million. GAAP net income of $40.5 million works out to 22 cents/share, non-GAAP earnings were 44 cents/share. That beat analysts' estimates of a 40-cent EPS.

Akamai reports that as of the end of Q4, it had 2,858 customers -- a record and an 8% year-over-year increase.

For Q1 2009, Akamai expects to bring in between 39 and 41 cents/share, on revenues of between $205 million and $212 million. The company did not choose to give full-year guidance for 2009.

Trading on Akamai's stock was up to $15.25 (7.62%) in after-hours trading. It closed on Wednesday before the earnings call at $14.17.