Akamai Earnings, Revenue Top Estimates On Media Traffic Growth

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Akamai Technologies ( AKAM ) reported first-quarter earnings and revenue that topped estimates, and its own profit forecast came in slightly above Wall Street expectations. The Akamai earnings report sent its stock surging in early trading Wednesday but shares retreated after the open. "Revenue upside was driven unexpectedly by strong performance from its Big 6 internet platform customers that offset softness in its security business," Cowen analyst Colby Synesael said in a report to clients. Cambridge, Mass.-based Akamai is the biggest provider of content delivery network services, or CDN. CDN services increase the speed of e-commerce transactions, online gaming, business software downloads and video streaming to mobile devices.

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