Akamai Earnings: What To Look For From AKAM
Stock Story
Published Feb 12, 2024 02:02AM ET
Updated Feb 12, 2024 06:32AM ET
Akamai Earnings: What To Look For From AKAM
Web content delivery and security company Akamai (NASDAQ:AKAM) will be reporting results tomorrow after market hours. Here's what investors should know.
Last quarter Akamai reported revenues of $965.5 million, up 9.5% year on year, beating analyst revenue expectations by 2.3%. It was a good quarter for the company, with a decent beat of analysts' revenue and EPS estimates.
Is Akamai buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Akamai's revenue to grow 7.8% year on year to $999.7 million, improving on the 2.5% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.61 per share.
The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing four upward revisions over the last thirty days. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 1%.
Looking at Akamai's peers in the software development segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Cloudflare (NYSE:NET) delivered top-line growth of 32% year on year, beating analyst estimates by 2.7% and F5 reported revenue decline of 1.1% year on year, exceeding estimates by 1.1%. Cloudflare traded up 20.2% on the results, and F5 was up 10.6%.
Read the full analysis of Cloudflare's and F5's results on StockStory.
There has been positive sentiment among investors in the software development segment, with the stocks up on average 8.2% over the last month. Akamai is up 8.8% during the same time, and is heading into the earnings with analyst price target of $121, compared to share price of $128.9.
Get The News You Want
Written By: Stock Story
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.