Business
AKAMAI REPORTS FIRST QUARTER 2023 FINANCIAL RESULTS
First quarter revenue of $916 million, up 1% year-over-year and up 4% when adjusted for foreign exchange* Security and compute revenue represented 57% of
About this update from Akamai Technologies, Inc.
[{"type":"text","content":"First quarter revenue of $916 million, up 1% year-over-year and up 4% when adjusted for foreign exchange*\nSecurity and compute revenue represented 57% of total revenue in the first quarter and grew 13% year-over-year and 16% when adjusted for foreign exchange*\nGAAP EPS of $0.62, down 24% year-over-year and down 18% when adjusted for foreign exchange*, and non-GAAP EPS* of $1.40, up 1% year-over-year and up 4% when adjusted for foreign exchange*\nGuidance raised for full-year revenue and non-GAAP net income per diluted share*\nCAMBRIDGE, Mass., May 9, 2023 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, today reported financial results for the first quarter ended March 31, 2023.\n\n \n \n \n \n \n \n\n \n\"Akamai had a strong start to 2023, with both revenue and earnings above our expectations,\" said Dr. Tom Leighton, Chief Executive Officer. \"We reached a significant milestone during the first quarter when, for the first time in Akamai's 25-year history, security became our largest revenue stream. Looking ahead, we remain committed to driving efficiency and profitability as we focus investment in areas with the strongest potential for future growth.\" \nAkamai delivered the following results for the first quarter ended March 31, 2023:\nRevenue: Revenue was $916 million, a 1% increase over first quarter 2022 revenue of $904 million and a 4% increase when adjusted for foreign exchange.*\nRevenue by solution:\nSecurity revenue was $406 million, up 6% year-over-year and up 9% when adjusted for foreign exchange*Delivery revenue was $394 million, down 11% year-over-year and down 9% when adjusted for foreign exchange*Compute revenue was $116 million, up 49% year-over-year and up 51% when adjusted for foreign exchange*Revenue by geography:\nU.S. revenue was $474 million, down 1% year-over-yearInternational revenue was $442 million, up 5% year-over-year and up 9% when adjusted for foreign exchange*Income from operations: GAAP income from operations was $127 million, a 27% decrease from first quarter 2022. GAAP operating margin for the first quarter was 14%, down 5 percentage points from the same period last year.\nNon-GAAP income from operations* was $264 million, a 2% decrease from first quarter 2022. Non-GAAP operating margin* for the first quarter was 29%, down 1 pe...