(Reuters) - Online content distributor Akamai Technologies Inc reported better-than-expected quarterly revenue, helped by higher demand for its security services, and announced a $1 billion share buyback programme.
Shares of Akamai, whose customers include EMC Corp , MTV Networks and Autodesk Inc , rose 9 percent to $44.66 in after hours trading on Tuesday.
Revenue from the company's fast-growing performance and security business, under which it offers cloud security products, rose about 16.4 percent to $286 million.
Akamai's cloud security protects websites and other Internet applications against hackers.
Revenue from media delivery solutions business fell 1.8 percent to $247.1 million.
Net income fell to $88.4 million, or 49 cents per share, in the fourth quarter ended Dec. 31 from $97.1 million, or 54 cents per share, a year earlier.
Excluding items, Akamai earned 72 cents per share, beating average analyst estimate of 62 cents.
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Revenue rose to $579.2 million from $536.3 million, above average analyst estimate of $568.7 million.
(Reporting by Kshitiz Goliya and Supantha Mukherjee in Bengaluru; Editing by Anil D'Silva)