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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.
Revenue by Segment
Revenue by Geographic Location
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)
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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