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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.
Revenue by Segment
Revenue by Geographic Location
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 %
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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