Categories Earnings, Technology

Akamai Technologies (NASDAQ: AKAM): Q4 2019 Earnings Snapshot

— Akamai Technologies, Inc. (NASDAQ: AKAM) reported its fourth-quarter 2019 adjusted earnings of $1.23 per share versus $1.13 per share expected.

— Total revenue grew 8% to $772 million versus $749.28 million expected. Excluding foreign exchange, revenue would have risen 9%.

Akamai Technologies (AKAM) Q4 2019 earnings results

— The results were benefited by the rapid growth of its cloud security business, robust seasonal traffic on its network and its continued focus on operational excellence.

— Division-wise, Web Division revenue increased by 9% year-over-year to $420 million. Media and Carrier Division revenue rose by 8% to $353 million.

— Cloud Security Solutions’ revenue was $238 million, up 29% year-over-year and when adjusted for foreign exchange.

— Revenue from Internet Platform Customers increased by 20% to $52 million. Revenue excluding Internet Platform Customers rose by 7% to $720 million.

— The US revenue rose by 3% year-over-year while international revenue jumped by 17%.

— The company believes that it is well-positioned to achieve a 30% non-GAAP operating margin goal in 2020, as it continues to invest in innovation and new products to drive future growth.

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