Why Internap Shares Popped

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Internap (NASDAQ: INAP  ) have popped today by as much as 11% after the company reported better-than-expected earnings.

So what: Revenue in the fourth quarter came in at $69.7 million, slightly ahead of the consensus estimate of $69 million. Adjusted net income was $2.1 million, or $0.04 per share, which was twice the $0.02 per share adjusted profit that analysts were expecting. The company closed out the year with 3,700 customers.

Now what: CEO Eric Cooney said Internap has successfully integrated the Voxel business and the company will continue to focus on execution heading into 2013. Internap also recently expanded a data center in Atlanta and opened a new data center in Los Angeles and both have received Green Globes certifications. The company now has $28.6 million in cash and equivalents.

Interested in more info on Internap? Add it to your watchlist by clicking here.

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