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Akamai Technologies, Inc. (NASDAQ:AKAM) shares jumped 6.92% in after-hours trading to $78.06 on Thursday following the release of the company's third-quarter financial results.
Check out the current price of AKAM stock here.
The stock closed at $73 in Thursday's regular session, according to Benzinga Pro data.
Akamai Technologies reported quarterly revenue of $1.055 billion for the period ended Sept. 30, up 5% from $1.005 billion in the same quarter last year.
Non-generally accepted accounting principles (GAAP) net income per diluted share rose 17% year over year to $1.86.
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Segment-wise revenue breakdown for Akamai Technologies:
| Segment | Revenue (in million $) | Year-over-Year Growth |
|---|---|---|
| Security | $568 | 10% |
| Cloud Infrastructure Services | $81 | 39% |
“We were particularly pleased by the continued success of our high-growth security products and the momentum in Cloud Infrastructure Services,” said CEO Dr. Tom Leighton.
Non-GAAP operating margin was 31%, up 2 percentage points from the same period last year.
The cybersecurity and cloud computing company also launched Akamai Inference Cloud, powered by NVIDIA AI infrastructure, designed for secure, low-latency AI performance at the edge.
Akamai projects fourth-quarter revenue between $1.065 billion and $1.085 billion, with non-GAAP operating margins ranging from 28% to 30%.
Akamai shares are down 23.50% year to date.
Shares of the Massachusetts-based company have traded between $67.60 and $104.99 over the past year and carry a market capitalization of $10.47 billion.
Benzinga Edge Stock Rankings indicate that AKAM has a negative price trend across all time frames. Track the performance of other players in this segment.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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