Akamai beats estimates on cloud computing demand, shares rise
October 25, 2012
Grazed from Reuters. Author: Editorial Staff.
Akamai Technologies Inc (AKAM.O) beat Wall Street expectations as the internet content delivery company reported higher revenue in its cloud computing and media delivery segments. Shares of the company, which helps firms deliver content faster by avoiding congestion on the Web, were up 5.5 percent in after-market trade.
Akamai has been benefiting from a strong demand for online videos and companies spending more on internet initiatives to cut costs…
"Even though IT spending globally is under a lot of pressure, it is not showing up in our results because one of the things the CIOs are doing is to move businesses to the cloud," Chief Executive Paul Sagan told Reuters…
Read more from the source @ http://www.reuters.com/article/2012/10/24/us-akamaitechnologies-results-idUSBRE89N1MS20121024