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Akamai's revenue up but profit falls on spending

Akamai Technologies Inc. AKAM, +3.07% said its revenue rose 8% in the first quarter, even as its network-building push continued to take a toll on profit.

Shares, down about 30% over the past 12 months, fell 2.2% in after-hours trading.

Founded in 1998, Akamai is a cloud-based service that speeds up delivery of Web pages and other online content and offers security, media analytics and other networking services.

The Cambridge, Mass.-based Akamai is bracing for the Olympics in Rio de Janeiro and soccer's Euro Cup, key events that are expected to test the company's network of more than 210,000 servers around the world.

Akamai, which estimates it...