Akamai Technologies reported financial results for the first quarter ended March 31, 2015. Revenue was $527 million, a 16% increase Q1 2014 of $454 million and a 20% increase when adjusted for foreign exchange.
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GAAP net income for the first quarter of 2015 was $78 million, or $0.43 per diluted share, a decrease from the prior quarter's GAAP net income of $97 million, and a 7% increase over first quarter 2014 GAAP net income of $73 million, or $0.40 per diluted share.
Non-GAAP net income for the first quarter of 2015 was $111 million, or $0.61 per diluted share, a decrease from the prior quarter's non-GAAP net income of $127 million, and a 6% increase over first quarter 2014 non-GAAP net income of $105 million, or $0.58 per diluted share.
Adjusted EBITDA for the first quarter of 2015 was $223 million, a decrease from the prior quarter's Adjusted EBITDA of $232 million and up from $204 million in the first quarter of 2014.
Adjusted EBITDA margin for the first quarter of 2015 was 42%, down a percentage point from the prior quarter and down three percentage points from the same period last year.
GAAP income from operations for the first quarter of 2015 was $122 million, a decrease from the prior quarter's GAAP income from operations of $136 million and up from $121 million in the first quarter of 2014. GAAP operating margin for the first quarter of 2015 was 23%, down two percentage points from the prior quarter and down four percentage points from the same period last year.
Non-GAAP income from operations* for the first quarter of 2015 was $163 million, a decrease from the prior quarter's non-GAAP income from operations of $175 million and up from $159 million in the first quarter of 2014.
Non-GAAP operating margin for the first quarter of 2015 was 31%, down two percentage points from the prior quarter and down four percentage points from the same period last year.
Cash from operations for the first quarter of 2015 was $100 million, or 19% of revenue. The Company had $1.5 billion of cash, cash equivalents and marketable securities as of March 31, 2015.
During the first quarter of 2015, under the share repurchase program authorized by the board of Directors in October 2013, the company spent $63 million to repurchase 0.9 million shares of its common stock at an average price of $67.24 per share. The company had approximately 179 million shares of common stock outstanding as of March 31, 2015. ■