Akamai Technologies (NASDAQ:AKAM) shares gained nearly 5% after-hours following the company’s reported Q2 results, with EPS of $1.49 coming in better than the consensus estimate of $1.41.
Revenue grew 4% year-over-year to $936 million, beating the consensus estimate of $930.38M. Security revenue was up 14% year-over-year to $433M, while delivery revenue fell 9% to $380M. Compute revenue was $123M, representing a year-over-year increase of 16%.
"Akamai delivered excellent results in the second quarter driven by the strength of our security solutions and our continued improvements in operating efficiency. Building on our solid momentum from the first two quarters, we are increasing our guidance for revenue and earnings for the remainder of the year, while continuing to invest in key growth areas of security and cloud computing," said CEO Tom Leighton.
For Q3/23, the company expects EPS in the range of $1.48-$1.52, compared to the consensus of $1.41, and revenue in the range of $937-$952M, compared to the consensus of $931M.
For the full year, the company sees EPS at $5.87-$5.95, compared to the consensus of $5.75, and revenue at $3.765-$3.795 billion, compared to the consensus of $3.76B.