Wedbush Reports In-Line Q1 Results For Akamai Technologies

According to Wedbush, Akamai Technologies (NASDAQ: AKAM) saw in-line 1Q11 results.

Wedbush reported that it is lowering its Q1 Commerce revenue estimate as March page view growth was below expectations, as was January and February. “March page views increased 3% YoY, below our 24% estimate, which translates into 1Q11 page view growth of 7% YoY, which is below our previous estimate of 14%. We are estimating 9% YoY revenue growth for Akamai's Commerce vertical, but given the page view growth downside, we are reducing our Commerce revenue by $1 million. While Akamai's revenue growth historically outpaces our page view growth estimate by 4-6%, given the high correlation between Akamai's Commerce revenue and our page view growth estimate of ~94% over the previous seven quarters, we believe it is necessary to further reduce our Commerce revenue estimate.”

Akamai Technologies closed yesterday at $39.73.