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Feb 6 (Reuters) - Akamai Technologies Inc's profit and revenue topped estimates on Tuesday as an aggressive push into cloud security helped offset a decline in its traditional business of speeding up content delivery through the web.
The company's shares were up nearly 10 percent at $69 in after-hours trading.
Akamai, in which activist hedge fund Elliott Management Corp revealed a 6.5 percent stake, said it had recorded a $52 million charge related to job cuts and facility closures, largely in the media division.
The company has cut about 5 percent of its global workforce, Chief Executive Tom Leighton said on a call with analysts.
Revenue from the company's cloud security solutions surged over 32 percent to $135.2 million in the fourth quarter ended Dec. 31, while it declined 3 percent to $284 million in its media division.
The company's total revenue rose 7.7 percent to $663.5 million, beating analysts' average estimate of $649.1 million, according to Thomson Reuters I/B/E/S.
However, the company's net income plunged to $19.1 million, or 11 cents per share, from $91.6 million, or 52 cents per share, a year earlier, due to certain charges.
The company also said it recorded a $26 million provisional charge associated with the recent U.S. tax changes.
Excluding items, the company earned 69 cents per share, above analysts' average estimates of 63 cents, according to Thomson Reuters I/B/E/S.
Elliott in December pushed the company to look for strategic options. (Reporting by Sonam Rai and Arjun Panchadar in Bengaluru; Editing by Sriraj Kalluvila)