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 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.