SOURCE: The Bedford Report

The Bedford Report

June 23, 2011 08:16 ET

Cloud Computing Trend Boosts Demand for Level 3 and Akamai

The Bedford Report Provides Equity Research on Level 3 Communications & Akamai

NEW YORK, NY--(Marketwire - Jun 23, 2011) - Cloud computing is highly appealing to today's organizations, not only because of its projected cost savings but also because of the cloud's flexibility. With cloud services requiring more bandwidth due to high quality media, content delivery networks find themselves in higher demand. The Bedford Report examines the outlook for companies in the Technology Sector and provides research reports on Level 3 Communications, Inc. (NASDAQ: LVLT) and Akamai Technologies, Inc. (NASDAQ: AKAM). Access to the full company reports can be found at:

Apple has traditionally enlisted the help of Akamai Technologies for its content delivery network (CDN). Akamai was already the exclusive CDN of Apple's iTunes content when in January Apple renewed its contract with Akamai for additional volume for "new services." Speculation is that Akamai may be doing the delivery for Apple's new streaming music service, the iCloud.

Akamai recently posted first quarter net income of $54.9 million -- up more than 20 percent year over year. Akamai expects revenue in the range of $270.0 million to $280.0 million for second quarter of 2011

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Level 3 Communications is a well-diversified company across 145 markets in service in North American and approximately 45 markets in service in Europe. The company holds approximately 6.9 million square feet of Gateway and transmission facilities in North America and Europe, and substantial transoceanic cable system capacity, primarily across the Atlantic Ocean.

The company recently announced that it is buying Global Crossing Ltd for $2 billion. The purchase of Global Crossing brings Level 3 cloud computing services, which deliver software, data storage and other services over the Internet.

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