Akamai Sees Q2 Adj. EPS $1.51-$1.56 vs $1.63 Est., Revenue $967M-$986M vs $1B Est.; Sees FY24 Adj. EPS $6.20-$6.40 vs $6.73 Est., Revenue $3.95B-$4.02B vs $4.08B Est.
Portfolio Pulse from Benzinga Newsdesk
Akamai Technologies provided its Q2 and FY24 earnings guidance, forecasting lower-than-expected adjusted EPS and revenue. For Q2, it expects adjusted EPS between $1.51 and $1.56, below the $1.63 estimate, and revenue between $967M and $986M, under the $1B estimate. For FY24, the adjusted EPS is projected to be between $6.20 and $6.40, compared to the $6.73 estimate, with revenue expectations of $3.95B to $4.02B, less than the $4.08B estimate.
May 09, 2024 | 8:02 pm
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NEGATIVE IMPACT
Akamai Technologies forecasts lower-than-expected Q2 and FY24 earnings, with both adjusted EPS and revenue falling short of estimates.
The announcement of lower-than-expected earnings guidance for both Q2 and FY24, including both adjusted EPS and revenue, is likely to negatively impact investor sentiment and could lead to a decrease in Akamai Technologies' stock price in the short term. The significant deviation from analysts' estimates underscores potential challenges the company may be facing, which could lead to bearish market reactions.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100