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Akamai reports narrower-than-expected Q2 loss

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CIOL Bureau
New Update

CAMBRIDGE: Akamai Technologies Inc., a provider of content delivery services,

on Wednesday reported a second-quarter loss that was narrower than expected, as

the company moved toward its goal of posting positive operating earnings by next

year's second quarter.

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Cambridge, Massachusetts-based Akamai reported a second-quarter net loss,

before amortization and one-time items, of $46.8 million or 46 cents per share.

The normalized loss for the first quarter was $52.5 million or 53 cents per

share.

The consensus second-quarter estimate among analysts polled by Thomson

Financial/First Call was a loss of 50 cents per share.

Akamai reported a second-quarter net loss of $92.6 million or 91 cents per

share, which included a restructuring charge of $26.2 million related to a

workforce reduction and excess real estate, equity-related compensation of $11

million, and other non-cash charges of $8.6 million.

"Akamai recorded another quarter of solid growth and progress toward

reaching our goal of being EBITDA positive by the second quarter of next

year," said George Conrades, the company's chairman and chief executive.

(C) Reuters Limited 2001.

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