Business
Akamai Reports Third Quarter 2021 Financial Results
Third quarter revenue of $860 million, up 9% year-over-year and up 8% when adjusted for foreign exchange* Security Technology Group revenue of $335 million,
About this update from Akamai Technologies, Inc.
[{"type":"text","content":"Third quarter revenue of $860 million, up 9% year-over-year and up 8% when adjusted for foreign exchange*\n Security Technology Group revenue of $335 million, up 26% year-over-year and up 25% when adjusted for foreign exchange*\n Edge Technology Group revenue of $526 million, flat year-over-year and down 1% when adjusted for foreign exchange*\n GAAP EPS of $1.08, up 14% year-over-year, and non-GAAP EPS* of $1.45, up 11% year-over-year\n Board of Directors authorizes a new, three-year, $1.8 billion share repurchase program\n\n\nCAMBRIDGE, Mass., Nov. 2, 2021 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM), the world's most trusted solution to power and protect digital experiences, today reported financial results for the third quarter ended September 30, 2021.\n\n \n \n \n \n \n \n\n \n\"Akamai delivered another excellent quarter, highlighted by the continued very strong growth of our security business, which now accounts for nearly 40% of our overall revenue,\" said Dr. Tom Leighton, Akamai's Chief Executive Officer. \"We're particularly excited about our recent acquisition of Guardicore, a market leader in helping enterprises stop the spread of ransomware.\"\nAkamai delivered the following financial results for the third quarter ended September 30, 2021:\nRevenue: Revenue was $860 million, a 9% increase over third quarter 2020 revenue of $793 million and an 8% increase when adjusted for foreign exchange.*\nRevenue by Product Group:\nSecurity Technology Group revenue was $335 million, up 26% year-over-year and up 25% when adjusted for foreign exchange* Edge Technology Group revenue was $526 million, flat year-over-year and down 1% when adjusted for foreign exchange*Revenue by Geography:\nU.S. revenue was $449 million, up 3% year-over-year International revenue was $412 million, up 16% year-over-year and up 15% when adjusted for foreign exchange*Income from operations: GAAP income from operations was $205 million, a 13% increase from third quarter 2020. GAAP operating margin for the third quarter was 24%, up 1 percentage point from the same period last year.\nNon-GAAP income from operations* was $277 million, a 10% increase from third quarter 2020. Non-GAAP operating margin* for the third quarter was 32%, flat compared to the same period last year.\nNet income: GAAP net income was $179 million, a 13% increase from third ...