Akamai Technologies reported financial results for the fourth quarter and full-year ended December 31, 2014. Revenue for Q4 2014 was $536 million, a 23% increase over Q4 2013 revenue of $436 million, and a 25% increase when adjusted for foreign exchange.
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Total revenue for 2014 was $1,964 million, a 24% increase over 2013 revenue of $1,578 million, and a 25% increase when adjusted for foreign exchange.
GAAP net income for the fourth quarter of 2014 was $97 million, or $0.54 per diluted share, an increase from prior quarter's GAAP net income of $91 million, and a 21% increase over fourth quarter 2013 GAAP net income of $80 million, or $0.44 per diluted share.
Full-year GAAP net income for 2014 was $334 million, or $1.84 per diluted share, a 14% increase from 2013 GAAP net income of $293 million, or $1.61 per diluted share.
Non-GAAP net income for the fourth quarter of 2014 was $127 million, or $0.70 per diluted share, an increase from the prior quarter's non-GAAP net income of $111 million, or $0.62 per diluted share, and a 27% increase over fourth quarter 2013 non- GAAP net income of $100 million, or $0.55 per diluted share. Full-year non-GAAP net income was $449 million, or $2.48 per diluted share, a 22% increase over 2013 non-GAAP net income of $367 million, or $2.02 per diluted share.
GAAP and non-GAAP net income results for the fourth quarter include a $9 million, or $0.05 per diluted share, benefit from the reinstatement of the federal R&D tax credit, which was retroactive to January 1, 2014.
Adjusted EBITDA for the fourth quarter of 2014 was $232 million, an increase from the prior quarter's Adjusted EBITDA of $213 million, and also up from $192 million in the fourth quarter of 2013. Adjusted EBITDA margin for the fourth quarter of 2014 was 43%, consistent with the prior quarter and down one percentage point from the same period last year.
Adjusted EBITDA for the full-year 2014 was $853 million, an increase from the prior year's Adjusted EBITDA of $697 million. Full- year adjusted EBITDA margin in 2014 was 43%, down a point from the prior year.
GAAP income from operations for the fourth quarter of 2014 was $136 million, an increase from the prior quarter's GAAP income from operations of $120 million, and up from $116 million in the fourth quarter of 2013. GAAP operating margin for the fourth quarter of 2014 was 25%, up one percentage point from the prior quarter and down two percentage points from the same period last year.
GAAP income from operations for the full-year 2014 was $490 million, an increase from the prior year's GAAP income from operations of $414 million. GAAP operating margin for the full-year 2014 was 25%, down one percentage point from the prior year.
Non-GAAP income from operations for the fourth quarter of 2014 was $175 million, an increase from the prior quarter's non- GAAP income from operations of $158 million, and up from $149 million in the fourth quarter of 2013. Non-GAAP operating margin for the fourth quarter of 2014 was 33%, up one percentage point from the prior quarter and down one percentage point from the same period last year.
Non-GAAP income from operations for the full-year 2014 was $648 million, an increase from the prior year's non-GAAP income from operations of $542 million. Non-GAAP operating margin for the full-year 2014 was 33%, down one percentage point from the prior year.
Cash from operations for the fourth quarter of 2014 was $196 million, or 36% of revenue, and for the full year was $658 million, or 34% of revenue. At the end of the fourth quarter of 2014, the Company had $1.6 billion of cash, cash equivalents and marketable securities. ■