Skip to main content

Akamai Meets Street, Sinks

The company saw shares tumble, despite meeting analysts' expectations.


(AKAM) - Get Free Report

on Wednesday reported a quarter in line with analyst estimates, but shares tumbled anyway.

The Cambridge, Mass.-based digital storage and delivery provider reported net income of $19.2 million, or 11 cents per diluted share, compared to $11.5 million, or 7 cents a share, in the year-ago quarter.

Revenue came in at $139.3 million, compared to $90.8 million in the first quarter last year.

Excluding items, net income was $50.7 million or 28 cents a diluted share.

Analysts surveyed by Thomson Financial/First Call had forecast earnings of 28 cents on revenue of $138.82 million.

Shares closed down $5.62, or 10.3%, to $48.97 on Wednesday.