posted a fourth-quarter loss of 61 cents a share Wednesday, a smaller loss than analysts were expecting.
Twenty-four analysts surveyed by
First Call/Thomson Financial
were expecting a loss of 68 cents a share. In the year-ago period, Akamai posted a loss of 40 cents a share.
Akamai's revenue in the fourth quarter was $37.2 million, a nearly 14-fold increase from the year-ago period, when revenue was $2.7 million.
With most of its start-up costs already covered, the Internet content delivery provider said it's "poised to make a strong move toward profitability," the company said in a statement accompanying its earnings news release.
EBITDA losses are narrowing, capital efficiency is rising rapidly, and the balance sheet is healthy,'' said Chief Financial Officer Timothy Weller.
Akamai gained $3.25, or 10%, to close at $35.38 in regular-session
trading. In after-hours action, it was recently trading at $34.50 on