, Akamai: After-Hours Trading

NEW YORK (TheStreet) — Shares of rose in late trades Wednesday after the company handily beat Wall Street’s earnings expectations and agreed to acquire privately held for $100 million.

The Provo, Utah-based company said its subscriber base stood at 1.87 million as of March 31, up 16% year-over-year, and announced a new $100 million buyback program as well.

For the first quarter, said it earned $13.5 million, or 30 cents a share, on revenue of $108.5 million, besting the average estimate of analysts polled by Thomson Reuters for a profit of 23 cents a share on revenue of $107.4 million.

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