Business
AKAMAI REPORTS SECOND QUARTER 2024 FINANCIAL RESULTS
Second quarter revenue of $980 million, up 5% year-over-year and up 6% when adjusted for foreign exchange* Security and compute revenue represented 66% of
About this update from Akamai Technologies, Inc.
[{"type":"text","content":"Second quarter revenue of $980 million, up 5% year-over-year and up 6% when adjusted for foreign exchange*\nSecurity and compute revenue represented 66% of total revenue in the second quarter and combined grew 17% year-over-year and 18% when adjusted for foreign exchange*\nGAAP net income per diluted share of $0.86, up 2% year-over-year and up 6% when adjusted for foreign exchange*, and non-GAAP net income per diluted share* of $1.58, up 6% year-over-year and up 9% when adjusted for foreign exchange*\nCAMBRIDGE, Mass., Aug. 8, 2024 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, today reported financial results for the second quarter ended June 30, 2024.\n\n \n \n \n \n \n \n\n \n\"Akamai delivered solid results in the second quarter highlighted by our strong bottom-line performance and continued strength in our security and cloud computing solutions, which now represent approximately two-thirds of total revenue,\" said Dr. Tom Leighton, Akamai's Chief Executive Officer. \"We continue to execute on our strategy of investing in growth areas while remaining committed to driving profitability across the business and returning value to shareholders.\"\nAkamai delivered the following results for the second quarter ended June 30, 2024:\nRevenue: Revenue was $980 million, a 5% increase over second quarter 2023 revenue of $936 million and a 6% increase when adjusted for foreign exchange.*\nRevenue by solution:\nSecurity revenue was $499 million, up 15% year-over-year and up 16% when adjusted for foreign exchange*Delivery revenue was $329 million, down 13% year-over-year and down 12% when adjusted for foreign exchange*Compute revenue was $151 million, up 23% year-over-year and up 24% when adjusted for foreign exchange*Revenue by geography:\nU.S. revenue was $509 million, up 6% year-over-yearInternational revenue was $471 million, up 3% year-over-year and up 5% when adjusted for foreign exchange*Income from operations: GAAP income from operations was $148 million, a 1% decrease from second quarter 2023. GAAP operating margin for the second quarter was 15%, down 1 percentage point from the same period last year.\nNon-GAAP income from operations* was $282 million, a 3% increase from second quarter 2023. Non-GAAP operating margin* for the second quarter was 29%, flat from the ...