NEW YORK ( TheStreet) -- Shares of Akamai Technologies ( AKAM) tanked in Wednesday's after-hours session after the company wasn't able to find a silver lining in the cloud in its latest quarter. Akamai's second-quarter profit came in a penny short of Wall Street expectations as revenue barely grew on a sequential basis. The stock was last quoted at $25.45, down nearly 14%, on late volume of 2.5 million, according to Nasdaq.com. For the three months ended June 30, Akamai posted normalized net income of $65.8 million, or 35 cents a share, with revenue of $277 million, essentially flat with its first-quarter total of $276 million. The average estimate of analysts polled by Thomson Reuters was for earnings of 36 cents a share in the June period on revenue of $277.8 million. Akamai, a Cambridge, Mass.-based Web content delivery technology company that's looking to benefit from the cloud-computing push, saw its stock fall 4% in Wednesday's regular session to $29.48, putting the shares down 35% so far in 2011 before the after-hours selloff.
Wall Street was pretty bullish on TriQuint, which noted "short-term headwinds" in its press release on the quarter, with eight of the 11 analysts covering the stock at either strong buy (1) or buy (7). Year-to-date, the stock was down 9% ahead of the report, although it's up more than 45% in the past year. Since hitting a 52-week high of $15.20 on Feb. 17, the shares were down 33% based on Wednesday's regular session close at $10.21. Other stocks seeing heavy action in Wednesday's late trades included Crocs ( CROX), which was up 9% after it topped Wall Street's profit view by 40% in its latest quarter and said it was optimistic about back-to-school sales; Shutterfly ( SFLY), down nearly 7% after the company gave a below-consensus revenue view for its fiscal third quarter; and Citrix Systems ( CTXS), which fell 5% after hinting at weakness in its third quarter by forecasting a non-GAAP profit of 56 to 58 cents a share compared to the current consensus view of 61 cents. -- Written by Michael Baron in New York. >To contact the writer of this article, click here: Michael Baron. >To submit a news tip, send an email to: firstname.lastname@example.org