Akamai Technologies Inc (NASDAQ: AKAM) needs to merge with the likes of Cloudflare or Fastly, as per Jim Cramer. Shares of the Cambridge-headquartered firm are down 8.0% on Friday.Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.Cramer shares view on Akamai Technologies Copy link to sectionThe Mad Money host was all praise for the cybersecurity unit of $AKAM on CNBC’s “Squawk Box” today.  But its content delivery network, he added, is “old fashioned” a ...

Key TakeawaysShares of Akamai Technologies fell sharply in premarket trading Friday morning after the software infrastructure company's current-quarter and full-year guidance came in below Street expectations.The company said its outlook reflects a stronger dollar, a large social media customer rationalizing costs, and slowing traffic growth across the industry.Monitor an area on the chart between $89 and $94, where the price may find buying interest in a zone of support from prior price action between Nove ...

Financial Data and Key Metrics Changes - First quarter revenue reached $987 million, an increase of 8% year-over-year in both reported and constant currency [7][28] - Non-GAAP operating margin was 30%, and non-GAAP earnings per share were $1.64, up 17% year-over-year [7][30] - Security and cloud computing combined revenue grew 22% year-over-year, now representing almost two-thirds of total revenue [7][28] Business Line Data and Key Metrics Changes - Security revenue grew 21% year-over-year to $491 million, driven by strong demand for Guardicore Segmentation Solution [8][29] - Compute revenue was $145 million, up 25% year-over-year, with over 200 enterprise customers using cloud computing solutions [28][30] - Delivery revenue declined 11% year-over-year to $352 million, attributed to slowing traffic growth and a large social media customer optimizing costs [21][29] Market Data and Key Metrics Changes - International revenue was $475 million, up 7% year-over-year, representing 48% of total revenue [30] - The U.S. dollar's strength is expected to negatively impact revenue by approximately $40 million for the full year 2024 [24] Company Strategy and Development Direction - The company is focusing on leveraging its delivery product line's cash flow to invest in faster-growing security and cloud computing portfolios [7][21] - The planned acquisition of Noname Security is expected to enhance the company's API security offerings and accelerate growth in this segment [12][32] Management's Comments on Operating Environment and Future Outlook - Management acknowledged industry headwinds affecting the delivery product line and expressed optimism about the growth potential in security and compute [7][21] - The company expects delivery revenue to decline at a higher rate this year due to lower traffic and customer optimizations [25][27] Other Important Information - The company has authorized a new buyback program of up to $2 billion, effective through June 2027 [31][32] - The acquisition of Noname Security is expected to close in June and contribute approximately $20 million in revenue for the full year [33] Q&A Session Summary Question: Update on delivery renewals and guidance - Management confirmed that renewals are proceeding as planned, with pricing expectations met, but traffic volume is lower than usual [41] Question: Impact of lower volume on compute growth - Management indicated that while large customers are experiencing lower volumes, compute capabilities are being utilized effectively by major media companies [44] Question: Margin guidance and factors affecting it - Management explained that margin guidance was lowered due to lower delivery revenue and foreign exchange impacts, with no structural changes anticipated [46][48] Question: Confidence in traffic recovery for delivery business - Management expressed cautious optimism, noting that traffic levels are currently lower than expected but have historically recovered [60][62] Question: Details on the Noname acquisition - Management highlighted Noname's market leadership and complementary capabilities, expecting significant synergies post-acquisition [54][70] Question: Delivery business pricing and traffic growth - Management clarified that the decline in delivery revenue is primarily due to lower traffic rather than pricing issues [102] Question: Future outlook for compute business and CapEx - Management expects continued growth in the compute business, with a focus on maintaining low CapEx as a percentage of revenue [106]

For the quarter ended March 2024, Akamai Technologies (AKAM) reported revenue of $986.97 million, up 7.8% over the same period last year. EPS came in at $1.64, compared to $1.40 in the year-ago quarter.The reported revenue represents a surprise of -0.23% over the Zacks Consensus Estimate of $989.22 million. With the consensus EPS estimate being $1.61, the EPS surprise was +1.86%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to deter ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________ FORM 10-Q ______________________________________________ (Mark One) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-27275 ______________________________________________ Akamai Technologies, Inc. (Exact name of registrant as specified in its charter) Delaware 04-3432319 (State or other jur ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Contacts: Gina Sorice Mark Stoutenberg Media Relations Investor Relations Akamai Technologies Akamai Technologies 646-320-4107 857-227-4491 gsorice@akamai.com mstouten@akamai.com AKAMAI REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS First quarter revenue of $987 million, up 8% year-over-year and when adjusted for foreign exchange* Security and compute revenue represented 64% of total revenue in the first quarter and combined grew 22% year-over-year and when adjusted for fore ...

Akamai Technologies, Inc. (AKAM) is scheduled to release first-quarter 2024 results on May 9, after the closing bell. In the last reported quarter, the company delivered an earnings surprise of 6.29%. It pulled off a trailing four-quarter earnings surprise of 6.49%, on average. The company is expected to report higher revenues year over year, backed by healthy demand in security and compute verticals. Management’s focus on expanding its portfolio to cater to advanced use cases is a tailwind.Factors at PlayD ...

CAMBRIDGE, Mass., May 8, 2024 /PRNewswire/ -- Akamai Technologies (NASDAQ: AKAM), the cloud company that powers and protects life online, received multiple honors at the 18th annual Stevie® Awards for Sales & Customer Service. Akamai Cloud Computing (formerly Linode) has been recognized by the Stevie Awards for six consecutive years. Competing against some of the world's largest cloud providers, Akamai won: Gold for Customer Service Department of the Year — Computer Services, by the Akamai Compute Support ...

A couple of weeks ago, TechCrunch broke the news that Akamai was in discussions to acquire Noname Security, a specialist in API security, for around $500 million. Today the deal is official, albeit at a lower price. Akamai has confirmed that it is buying the company in a $450 million deal.The deal underscores the ongoing push for more consolidation in the current market: the last several years have seen the emergence a wide variety of cybersecurity startups. With a number of these companies finding it hard ...

Acquisition will enable Akamai to extend protection across all API traffic locations, no matter the business, integration, or deployment requirements CAMBRIDGE, Mass., May 7, 2024 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, announces that it has entered into a definitive agreement to acquire application programming interface (API) security company, Noname Security. Noname, one of the top API security vendors in the market, will enhance Ak ...