Business

Mass. Mover

Akamai’s sales forecast disappoints Street

Akamai, of Cambridge, helps customers speed the delivery of online content.
Pat Greenhouse/Globe Staff/2006
Akamai, of Cambridge, helps customers speed the delivery of online content.
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Akamai Technologies Inc. slumped after it forecast first-quarter revenue of $352 million to $362 million, short of the $369.8 million analysts’ estimated. Akamai reported fourth-quarter earnings late Wednesday. Net income of $68 million was up 14 percent year-over-year; revenue of $378 million, up 17 percent, missed forecasts. Jefferies cut the stock to “hold” from “buy,” citing ­potential pressure from a reinvestment plan on margins, MarketWatch.com reported.