Loading...
•
Jun 30, 2024
Akamai Q2 2024 Earnings Report
Akamai delivered solid results driven by strong bottom-line performance and strength in security and cloud computing solutions.
Key Takeaways
Akamai reported a 5% year-over-year increase in revenue, reaching $980 million. Security and compute revenue represented 66% of the total revenue, growing 17% year-over-year. The company's strong bottom-line performance was highlighted by GAAP net income per diluted share of $0.86 and non-GAAP net income per diluted share of $1.58.
Second quarter revenue reached $980 million, a 5% increase year-over-year.
Security and compute revenue accounted for 66% of total revenue, with a combined growth of 17% year-over-year.
GAAP net income per diluted share was $0.86, a 2% increase year-over-year.
Non-GAAP net income per diluted share was $1.58, a 6% increase year-over-year.
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
The company provided financial guidance for the third quarter and full year 2024.
Positive Outlook
- Revenue (in millions): $988 - $1,008 (Q3 2024)
- Revenue (in millions): $3,970 - $4,010 (FY 2024)
- Security revenue growth rates year-over-year: 15% - 17% (Q3 2024)
- Compute revenue growth rates year-over-year: 23% - 25% (Q3 2024)
- Non-GAAP operating margin: 29% (Q3 2024 & FY 2024)
Challenges Ahead
- Non-GAAP net income per diluted share: $1.56 - $1.62 (Q3 2024)
- Non-GAAP net income per diluted share: $6.34 - $6.47 (FY 2024)
- Non-GAAP tax rate: 19% - 20% (Q3 2024 & FY 2024)
- Shares used in non-GAAP per diluted share calculations (in millions): 154 (Q3 2024 & FY 2024)
- Capex as a percentage of revenue: 17% (Q3 2024), 16% (FY 2024)
Revenue & Expenses
Visualization of income flow from segment revenue to net income