June 26, 2018 / 12:39 PM / 3 months ago

Akamai cuts higher end of forecast for quarterly revenue, profit

(Reuters) - Akamai Technologies Inc (AKAM.O) on Tuesday cut the upper end of its forecast for second-quarter adjusted profit and revenue, citing a stronger dollar.

Shares of the company were down 2.8 percent at $75.50 in premarket trading on the Nasdaq.

Akamai said it expects to face a headwind of $3 million and $0.01 per share for second-quarter revenue and earnings respectively.

The company now expects adjusted profit in the range of 79 cents per share and 81 cents per share, on revenue of between $658 million and $663 million.

In April, Akamai had forecast second-quarter revenue of $658 million to $670 million and adjusted profit of 79 cents to 83 cents per share.

Analysts on average were expecting a profit of 80 cents per share, on revenue of $665.9 million.

Reporting by Munsif Vengattil in Bengaluru; Editing by Bernard Orr and Shailesh Kuber

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