Akamai Beats Street, Ups 2001 Outlook
6:41 PM EST Wed. Jan. 24, 2001
From the January 24, 2001 issue of CRN
Analysts expected Akamai to post 68 cents per share loss, according to First Call. The company, however, beat those expectations by 7 cents per share, posting 61 cents per share loss for the fourth quarter ended Dec. 31.
Revenue jumped to $37 million, compared with $2.7 million in the year-ago quarter and $27 million in the third quarter of 2000.
Net losses decreased from quarter to quarter, as well. The fourth-quarter net loss dropped to $303 million vs. $304 million in the third quarter, including special charges. However, the fourth-quarter net loss dwarfed the year-earlier quarter's $29.8 million net loss.
On the flip side, Akamai CEO George Conrades raised the company's 2001 revenue outlook to $240 million.
Akamai shares closed up $3.25 to $35.38.
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