Akamai CEO Says Slowdown in 'FANG' Biz Not Biting

Akamai shares are down even though it beat Wall Street's fourth-quarter estimates. Akamai's CEO says new products will offset declines in business from big network users.
Publish date:

Akamai(AKAM) - Get Report beat Wall Street's earnings and sales estimates in its fourth quarter. However, the company's shares are selling off as Wall Street worries about a slowdown in business from large players like Facebook, Amazon, Netflix and Google. Akamai CEO Tom Leighton says the drop-off in business is being overblown by traders and new products will help offset those declines.