Akamai Techs Q3 Outlook: Adj. EPS $1.56-$1.62 Vs. $1.54 Estimate, Revenue $988M-$1.01B Vs. $996.73M Estimate
Portfolio Pulse from Benzinga Newsdesk
Akamai Technologies has provided its financial guidance for Q3 and the full year 2024. The company expects Q3 adjusted EPS to be between $1.56 and $1.62, slightly above the $1.54 estimate. Revenue is projected to be between $988 million and $1.01 billion, close to the $996.73 million estimate. For the full year, revenue is expected to range from $3.97 billion to $4.01 billion. Security revenue growth is forecasted at 15-17%, and compute revenue growth at 23-25%. The non-GAAP operating margin is expected to remain at 29%, with a non-GAAP net income per diluted share between $6.34 and $6.47.
August 08, 2024 | 8:38 pm
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Akamai Technologies has provided its Q3 and full-year 2024 financial guidance. The company expects Q3 adjusted EPS to be slightly above estimates and revenue to be in line with expectations. Full-year revenue is projected to be between $3.97 billion and $4.01 billion, with strong growth in security and compute revenues.
The guidance provided by Akamai Technologies indicates a positive outlook with EPS slightly above estimates and revenue in line with expectations. The strong growth in security and compute revenues further supports a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100