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Jun 30, 2023
Akamai Q2 2023 Earnings Report
Akamai delivered excellent results driven by the strength of security solutions and continued improvements in operating efficiency.
Key Takeaways
Akamai reported a 4% year-over-year revenue increase to $936 million, driven by strong security solutions and compute growth. The company increased guidance for full-year revenue and non-GAAP net income per diluted share.
Second quarter revenue was $936 million, up 4% year-over-year and up 4% when adjusted for foreign exchange.
Security and compute revenue represented 59% of total revenue and grew 14% year-over-year and 15% when adjusted for foreign exchange.
GAAP diluted EPS was $0.84, down 1% year-over-year and up 1% when adjusted for foreign exchange, and non-GAAP diluted EPS was $1.49, up 10% year-over-year and up 11% when adjusted for foreign exchange.
Guidance increased for full-year revenue and non-GAAP net income per diluted share.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company reports the following financial guidance for the third quarter and full year 2023:
Positive Outlook
- Revenue (in millions): $937 - $952 (Three Months Ended September 30, 2023)
- Revenue (in millions): $3,765 - $3,795 (Year Ended December 31, 2023)
- Non-GAAP operating margin: 29% (Three Months Ended September 30, 2023)
- Non-GAAP operating margin: 29% (Year Ended December 31, 2023)
- Non-GAAP net income per diluted share: $1.48 - $1.52 (Three Months Ended September 30, 2023)
Challenges Ahead
- Non-GAAP net income per diluted share: $5.87 - $5.95 (Year Ended December 31, 2023)
- Non-GAAP tax rate: 16% (Three Months Ended September 30, 2023)
- Non-GAAP tax rate: 17% (Year Ended December 31, 2023)
- Shares used in non-GAAP per diluted share calculations (in millions): 155 (Three Months Ended September 30, 2023)
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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