Categories Earnings, Technology
Earnings Summary: Akamai Technologies reports Q1 2024 financial results
Cloud company Akamai Technologies, Inc. (NASDAQ: AKAM) has announced financial results for the first quarter of 2024, reporting higher sales and profit.
- First-quarter revenue was $987 million, up 8% year-over-year on a reported and forex-adjusted basis
- Security and compute revenue represented 64% of total revenue in Q1, and combined grew 22% year-over-year
- Delivery revenue was $352 million in Q1, down 11% year-over-year and down 10% when adjusted for foreign exchange
- US revenue was $512 million, up 8% year-over-year; International revenue increased 7% annually to $475 million
- Q1 earnings per share came in at $1.11, up 79% year-over-year and up 81% when adjusted for foreign exchange
- Adjusted net income per share was $1.64, up 17% year-over-year and up 18% on a forex-adjusted basis
- Income from operations was $167 million in the March quarter, a 32% increase from the first quarter of 2023
- During the quarter, the company’s board of directors authorized a three-year, $2.0 billion share repurchase program
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
FDX Earnings: FedEx Corporation reports higher Q4 revenue and adj. profit
Cargo giant FedEx Corporation (NYSE: FDX) Tuesday reported an increase in revenues and adjusted earnings for the fourth quarter of 2024. The positive top-line performance reflects revenue growth in the
Alumis looks to raise $300 million in IPO. Here’s what you need to know
Technology and healthcare companies are continuing to dominate the IPO market, which is witnessing a significant increase in activity compared to 2023. Alumis Inc., a clinical-stage biopharmaceutical company that develops
CCL Earnings: Carnival Corp. swings to profit in Q2 on strong revenue growth
Carnival Corporation & plc. (NYSE: CCL) on Tuesday posted strong revenue growth for the second quarter of 2024. The cruise line operator reported a profit for Q2, compared to a