The Mac Observer Increases Akamai Position In Stock Watch Virtual Portfolio

Akamai Technologies Inc. (AKAM) is off by more than $17 this morning to $90 3/4 after the Web content delivery firm beat second quarter expectations by more than 10%. Of course, weire talking in negative numbers here. The recent IPO is still reporting an operating loss of $43.4 million or $0.50 per share. All that red must have frightened investors who have become increasingly cautious of pre-profitable Web start-ups and for good reason. But Akamai is not a bbq.com story.

Revenues are growing at 151% on a quarter over quarter basis to $18.1 million from $7.2 million in their fiscal first quarter, while recurring business accounts almost double to 895 from the end of last quarter.

Sign Up for the Newsletter

Join the TMO Express Daily Newsletter to get the latest Mac headlines in your e-mail every weekday.

No Comments

Log-in to comment