From Nasdaq: 2024-05-10 12:00:00

Akamai Technologies, Inc. reported modest first-quarter 2024 results, with net sales of $987 million, up 8% year over year. GAAP net income improved to $175.4 million. Non-GAAP net income was $255.5 million, beating estimates by 3 cents per share. The company plans to acquire Noname Security to enhance its API security portfolio.

For the second quarter of 2024, Akamai expects revenues of $967-$986 million, with non-GAAP earnings per share forecasted in the range of $1.51-$1.56. For the full year 2024, revenues are projected in the range of $3.95-4 billion, with non-GAAP earnings expected to be $6.20-$6.40 per share. Operating margins are forecasted to be in the 28-29% range.

NVIDIA Corporation, with a Zacks Rank #2, delivered a trailing four-quarter average earnings surprise of 20.18%. Arista Networks, Inc., also with a Zacks Rank #2, reported an earnings surprise of 15.39% in the trailing four quarters. Silicon Motion Technology Corporation holds a Zacks Rank #1 and delivered a trailing four-quarter average earnings surprise of 4.72%.



Read more at Nasdaq: Akamai (AKAM) Q1 Earnings Beat Estimates on Higher Revenues