Akamai (Nasdaq: AKAM), the big digital media content delivery network, has reported its Q2 numbers, and while they were good and in line with expectations, the shares fell more than 10 percent because it did disappointed those betting on surprise/higher growth. Profits for Q2 rose to $21.6 million from $11.3 million in the year-ago quarter. Revenues rose 52 percent year-over-year to $152.7 million.
The stock market reaction was similar to Akamai’s Q1 results, which came in line with expectations, but triggered a 10 percent fall in the shares, reports Reuters. Akamai delivers 15- 20 percent of all Web content traffic on any given day, the company says. More details in earnings release.
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