Business
Akamai Reports Fourth Quarter 2019 and Full-Year 2019 Financial Results
Fourth quarter revenue of $772 million, up 8% year-over-year and up 9% when adjusted for foreign exchange* Cloud Security Solutions revenue grew 29%
About this update from Akamai Technologies, Inc.
[{"type":"text","content":"Fourth quarter revenue of $772 million, up 8% year-over-year and up 9% when adjusted for foreign exchange*\n Cloud Security Solutions revenue grew 29% year-over-year\n GAAP EPS of $0.73, up 28% year-over-year, and non-GAAP EPS* of $1.23, up 15% year-over-year\n\n\nCAMBRIDGE, Mass., Feb. 11, 2020 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM), the intelligent edge platform for securing and delivering digital experiences, today reported financial results for the fourth quarter and full-year ended December 31, 2019.\n\n \n \n\n \n\"We were very pleased with our 2019 performance. Both revenue and earnings exceeded our expectations due to the rapid growth of our cloud security business, robust seasonal traffic on our network and our continued focus on operational excellence,\" said Dr. Tom Leighton, Chief Executive Officer of Akamai. \"As a result, we achieved another year of strong revenue growth and operating margin expansion, and we believe that we are well-positioned to achieve our 30% non-GAAP operating margin goal in 2020, as we continue to invest in innovation and new products to drive future growth.\"\nAkamai delivered the following results for the fourth quarter and full-year ended December 31, 2019:\nRevenue: Revenue for the fourth quarter was $772 million, an 8% increase over fourth quarter 2018 revenue of $713 million and a 9% increase when adjusted for foreign exchange.* Total revenue for 2019 was $2.894 billion compared to $2.714 billion for 2018, up 7% year-over-year and up 8% when adjusted for foreign exchange.*\nRevenue by Division(1):\nWeb Division revenue for the fourth quarter was $420 million, up 9% year-over-year and when adjusted for foreign exchange.* Web Division revenue for 2019 was $1.566 billion, up 8% year-over-year and up 9% when adjusted for foreign exchange.* Media and Carrier Division revenue for the fourth quarter was $353 million, up 8% year-over-year and when adjusted for foreign exchange.* Media and Carrier Division revenue for 2019 was $1.327 billion, up 5% year-over-year and up 6% when adjusted for foreign exchange.*Revenue from Cloud Security Solutions(2):\nCloud Security Solutions revenue for the fourth quarter was $238 million, up 29% year-over-year and when adjusted for foreign exchange.* Cloud Security Solutions revenue for 2019 was $849 million, up 29% year-over-year and up 30% w...