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Akamai Takes a Hit on Lower Web Traffic Projections

Akamai Technologies (AKAM - Get Report) beat Wall Street's earnings and revenue estimates in the third quarter, but light fourth-quarter guidance and worries about online media traffic have traders slamming the stock today.

Akamai, down 17% at the close Wednesday, posted third quarter adjusted earnings of 62 cents a share on revenue of $551 million. Analysts were looking for 58 cents a share on sales of $550 million. Last year, the content delivery company earned 62 cents per share on revenue of $498 million. Cash from operations in the third quarter was $183 million, or 33% of revenue. Akamai also had $1.5 billion...