Business
    Next Score View the next score

    mass. mover

    Akamai Technologies stock surges

    Akamai says it will capitalize on opportunities “shaping online business: cloud, mobile, video, and security.”
    Globe file photo/2006
    Akamai says it will capitalize on opportunities “shaping online business: cloud, mobile, video, and security.”

    Shares of Akamai Technologies Inc. soared after the Cambridge-based provider of Internet content delivery services said quarterly net income increased 65 percent to $71 million from a year earlier. Revenue rose 15 percent to $368 million. JPMorgan Chase & Co. upgraded the stock and set a $52 price target. It cited acceleration of growth in Akamai’s media business, an expansion of its sales force, and signs it can maintain its gross margins at current levels.

    Advertisement