Loading...
•
Mar 31, 2024
Akamai Q1 2024 Earnings Report
Akamai's Q1 2024 financial results were reported, showing revenue growth and increased profitability.
Key Takeaways
Akamai reported a revenue of $987 million, up 8% year-over-year. Security and compute solutions drove growth, representing 64% of total revenue and growing 22% year-over-year. GAAP net income per diluted share was $1.11, up 79% year-over-year, and non-GAAP net income per diluted share was $1.64, up 17% year-over-year.
Revenue increased by 8% year-over-year, reaching $987 million.
Security revenue grew by 21% year-over-year, amounting to $491 million.
Compute revenue increased by 25% year-over-year, reaching $145 million.
GAAP net income per diluted share rose by 79% year-over-year to $1.11.
Akamai
Akamai
Akamai Revenue by Segment
Akamai Revenue by Geographic Location
Revenue by Segment
Security Revenue
CapyFin.comDelivery Revenue
CapyFin.comCloud Computing Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Akamai's updated full year 2024 guidance reflects the impacts of the strengthening U.S. dollar, a large social media customer optimizing costs and slowing traffic growth across the industry, as well as increased full year expectations for our security and compute solutions
Positive Outlook
- Security revenue growth rates year-over-year *15 %17 %
- Compute revenue growth rates year-over-year *21 %23 %
- Non-GAAP operating margin *28 %29 %
- Non-GAAP net income per diluted share *$1.51 $1.56
- Shares used in non-GAAP per diluted share calculations * (in millions)155 155
Challenges Ahead
- Revenue (in millions)$967 $986
- Non-GAAP operating margin *28 %29 %
- Non-GAAP net income per diluted share *$1.51 $1.56
- Non-GAAP tax rate*19.0 %19.5 %
- Capex as a percentage of revenue *18 %19 %
Revenue & Expenses
Visualization of income flow from segment revenue to net income