Business
AKAMAI REPORTS THIRD QUARTER 2022 FINANCIAL RESULTS
Third quarter revenue of $882 million, up 3% year-over-year and up 7% when adjusted for foreign exchange* Security and compute revenue represented 55% of
About this update from Akamai Technologies, Inc.
[{"type":"text","content":"Third quarter revenue of $882 million, up 3% year-over-year and up 7% when adjusted for foreign exchange*\nSecurity and compute revenue represented 55% of total revenue in the third quarter and grew 23% year-over-year and 28% when adjusted for foreign exchange*\nGAAP EPS of $0.68, down 37% year-over-year and down 29% when adjusted for foreign exchange*, and non-GAAP EPS* of $1.26, down 13% year-over-year and down 7% when adjusted for foreign exchange*\nCAMBRIDGE, Mass., Nov. 8, 2022 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, today reported financial results for the third quarter ended September 30, 2022.\n\n \n \n \n \n \n \n\n \n\"Akamai delivered another quarter of solid results despite global macroeconomic challenges, including foreign exchange headwinds,\" said Dr. Tom Leighton, Akamai's chief executive officer. \"Our performance continued to be led by the strong growth of our security and compute product groups, which collectively grew 23% year-over-year and 28% when adjusted for foreign exchange* comprising 55% of our overall revenue.\"\nAkamai delivered the following financial results for the third quarter ended September 30, 2022:\nRevenue: Revenue was $882 million, a 3% increase over third quarter 2021 revenue of $860 million and a 7% increase when adjusted for foreign exchange.*\nRevenue by solution:\nSecurity revenue was $380 million, up 13% year-over-year and up 19% when adjusted for foreign exchange*Delivery revenue was $393 million, down 15% year-over-year and down 11% when adjusted for foreign exchange*Compute revenue was $109 million, up 72% year-over-year and up 77% when adjusted for foreign exchange*Revenue by geography:\nU.S. revenue was $461 million, up 3% year-over-yearInternational revenue was $421 million, up 2% year-over-year and up 12% when adjusted for foreign exchange*Income from operations: GAAP income from operations was $160 million, a 22% decrease from third quarter 2021. GAAP operating margin for the third quarter was 18%, down 6 percentage points from the same period last year.\nNon-GAAP income from operations* was $243 million, a 12% decrease from third quarter 2021. Non-GAAP operating margin* for the third quarter was 28%, down 4 percentage points compared to the same period last year.\nNet income: GAAP net income was $108 m...