— 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%.
— 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.
Shares of Lyft Inc. (NASDAQ: LYFT) were up 8% in afternoon hours on Wednesday. The stock has gained 53% over the past 12 months and 25% since the beginning of
Department store chain Target Corp. (NYSE: TGT), which has been thriving on the pandemic-driven shopping boom since early last year, maintained its strong performance during the holiday season and entered
Dollar Tree (NYSE: DLTR) reported fourth-quarter financial results before the opening bell on Wednesday. The discount store reported a 7% increase in Q4 net sales to $6.7 billion. The company