Akamai Falls as Third-Quarter Forecast Misses Estimates
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Akamai Technologies Inc., the operator of a server network that lets businesses deliver data quickly, fell as much as 14 percent in late trading after its third-quarter revenue and earnings forecast missed estimates.
Profit will be 31 cents to 34 cents a share, excluding some items, said Akamai Chief Financial Officer J.D. Sherman on a conference call today. That compares with analysts’ estimates of 38 cents. The company expects sales of $273 million to $283 million, compared projections of $288.7 million.