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Inktomi Leaps on Raised Guidance

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Inktomi (INKT) was up 18.2% in early trading after it raised fourth-quarter earnings guidance but said it was cutting 150 jobs.

The Internet search and content delivery developer also said it will post charges of $12.9 million related to the staff reductions and other restructuring items as it works to return to profitability.

Inktomi said it expects a fourth-quarter loss of 14 to 15 cents a share, up from earlier estimates of 16 to 18 cents. Revenue remains in line with previous guidance of $38 million to $39 million.

Analysts were expecting a loss of 17 cents a share on revenue of $38.6 million, according to Thomson Financial/First Call.