Akamai Reports Second Quarter 2017 Financial Results
26/07/2017
Cambridge, MA | July 25, 2017
Revenue of $609 million, up 6% year-over-year and 7% when adjusted for foreign exchange*
Revenue excluding Internet Platform Customers(1) up 9% year-over-year and 10% when adjusted for foreign exchange*
GAAP EPS of $0.33 per diluted share, down 21% year-over-year and up 1% when adjusted for foreign exchange and the dilutive effect of the Soasta acquisition*
Non-GAAP EPS of $0.62 per diluted share, down 3% year-over-year and up 4% when adjusted for foreign exchange and the dilutive effect of the Soasta acquisition*
Akamai Technologies, Inc. (NASDAQ: AKAM), the worlds largest and most trusted cloud delivery platform, today reported financial results for the second quarter ended June 30, 2017.
Akamai delivered another solid quarter for revenue and earnings as we continued to diversify our portfolio and customer base, said Dr. Tom Leighton, Chief Executive Officer. Revenue from our Web Division customers grew 15% and now accounts for a majority of revenue. Revenue from our security products alone grew 32% year-over-year to an annualized revenue run rate of nearly half-a-billion dollars.
Akamai delivered the following financial results for the second quarter ended June 30, 2017:
Revenue: Revenue was $609 million, a 6% increase over second quarter 2016 revenue of $572 million and a 7% increase when adjusted for foreign exchange.*
Customer Revenue by Division(2):
Web Division revenue was $315 million, up 15% year-over-year and up 16% when adjusted for foreign exchange*
Media Division revenue was $276 million, down 2% year-over-year and down 1% when adjusted for foreign exchange*
Enterprise and Carrier Division revenue was $18 million, up 9% year-over-year and up 10% when adjusted for foreign exchange*
Revenue by Solution Category(3):
Performance and Security Solutions revenue was $376 million, up 15% year-over-year and up 16% when adjusted for foreign exchange*
Cloud Security Solutions revenue, a component of Performance and Security, was $115 million, up 32% year-over-year and up 34% when adjusted for foreign exchange*
Media Delivery Solutions revenue was $179 million, down 9% year-over-year and when adjusted for foreign exchange*
Services and Support Solutions revenue was $54 million, up 12% year-over-year and up 13% when adjusted for foreign exchange*
Revenue by Geography:
U.S. revenue was $403 million, up 2% year-over-year
International revenue was $206 million, up 16% year-over-year and up 19% when adjusted for foreign exchange*
Revenue from Internet Platform Customers(1):
Revenue from Internet Platform Customers was $51 million, down 17% year-over-year and when adjusted for foreign exchange*
Revenue excluding Internet Platform Customers was $558 million, up 9% year-over-year and up 10% when adjusted for foreign exchange*
Income from operations: GAAP income from operations was $87 million, a 21% decrease from second quarter 2016. GAAP operating margin for the second quarter was 14%, down 5 percentage points from the same period last year.
Non-GAAP income from operations* was $147 million, a 6% decrease from second quarter 2016. Non-GAAP operating margin* for the second quarter was 24%, down 3 percentage points from the same period last year.
Net income: GAAP net income was $58 million, a 22% decrease from second quarter 2016. Non-GAAP net income* was $108 million, a 4% decrease from second quarter 2016.
EPS: GAAP EPS was $0.33 per diluted share, a 21% decrease from second quarter 2016 and an 18% decrease when adjusted for foreign exchange.* The year-over-year GAAP EPS growth rate, when adjusted for both foreign exchange* and the dilutive impact of the Companys acquisition of Soasta, Inc.,* was an increase of 1%.
Non-GAAP EPS was $0.62 per diluted share, a 3% decrease from second quarter 2016 and flat when adjusted for foreign exchange.* The year-over-year non-GAAP EPS growth rate, when adjusted for both foreign exchange* and the dilutive impact of the Companys acquisition of Soasta, Inc.,* was an increase of 4%.
Adjusted EBITDA*: Adjusted EBITDA was $224 million, a 3% decrease from second quarter 2016. Adjusted EBITDA margin* was 37%, down 3 percentage points from second quarter of 2016.
Other first quarter 2017 results:
Cash from operations was $225 million, or 37% of revenue
Cash, cash equivalents and marketable securities as of June 30, 2017 was $1.4 billion
The Company spent $105 million to repurchase 2.0 million shares of its common stock at an average price of $52.06 per share
The Company had approximately 172 million shares of common stock outstanding as of June 30, 2017
* See Use of Non-GAAP Financial Measures below for definitions
(1) Internet Platform Customers - Six customers that are large Internet platform companies: Amazon, Apple, Facebook, Google, Microsoft and Netflix
(2) Customer revenue by division - A customer-focused reporting view that reflects revenue from customers that are managed by the division. During the first quarter of 2017, the divisional categorization of certain customers was adjusted based on how those customer categorizations are currently being managed. The historical presentation of divisional revenue was revised in order to reflect the most recent categorization and to provide a comparable view for all periods presented.
(3) Revenue by solution category - A product-focused reporting view that reflects revenue by solution purchased
Quarterly Conference Call Akamai will host a conference call today at 4:30 p.m. ET that can be accessed through 1-844-578-9671 (or 1-508-637-5655 for international calls) and using passcode 45211864. A live webcast of the call may be accessed at www.akamai.com in the Investor section. In addition, a replay of the call will be available for two weeks following the confer
LINK: | https://www.akamai.com/uk/en/about/news/press/2017-press/akamai-report... |
See more stories from akami |
Most recent headlines
04/08/2024
Dalet Appoints Santiago Solanas as CEO to Lead Next Era of Growth and Innovation
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet and Veritone Reach Agreement to Distribute, Transact and Monetize Media Archives
Dalet, a leading technology and service provider for media-rich organizations, a...
28/04/2024
Mediahaus delivers the first SRT live-streaming sports production over 5G with URSA Broadcast G2
Mediahaus delivers the first SRT live-streaming sports production over 5G with U...
19/04/2024
Thank You for visiting us at NAB 2024!
Thank You for visiting us at NAB 2024! Thank you for joining us at the ToolsOnAir booth during NAB Show 2024! We were delighted to showcase our latest inno...
19/04/2024
Stress Positions Mines Health Anxieties for Comedy
PARK CITY, UTAH - JANUARY 18: (L-R) John Early and Theda Hammel attend the 2024 Sundance Film Festival Stress Positions premiere at Library Center Theatre on ...
19/04/2024
Give Me the Backstory: Get to Know Julian Brave NoiseCat and Emily Kassie, the Filmmakers Behind Sugarcane
By Lucy Spicer One of the most exciting things about the Sundance Film Festival...
19/04/2024
Mexico City Watchlist: 7 Documentaries About Working in CDMX
Pictured: Midnight Family By Stephanie Ornelas A great way to get to know a city as culturally unique and rich as Mexico City is to listen to the stories tol...
19/04/2024
SNS Dominates NAB Show 2024 With Triple Win For MOD
St. Louis, MO - April 18, 2024 - Studio Network Solutions (SNS) announced today that MOD won three prestigious industry awards at NAB Show 2024 held this week i...
19/04/2024
How Spotify Approaches Safety With Sarah Hoyle, Global Head of Trust and Safety
Spotify's mission is to unlock the potential of human creativity by giving a million artists the opportunity to live off their art and billions of fans the ...
19/04/2024
Spotify and Taylor Swift Create a One-of-a-Kind Library To Celebrate THE TORTURED POETS DEPARTMENT'
It's a beautiful day to be a Swiftie. Today, Taylor Swift dropped her 11th s...
19/04/2024
L3Harris Announces Quarterly Dividend
MELBOURNE, Fla., April 19, 2024 - The Board of Directors of L3Harris Technologies (NYSE:LHX) declared a quarterly cash dividend of $1.16 per common share, payab...
19/04/2024
Intel Lays Out 8K Production, AI Tech Plans for Paris Olympics
PARIS Intel has announced that its plans for the Olympic and Paralympic Games Paris 2024 will include using artificial intelligence technology powered by Intel ...
19/04/2024
Tech Advances Boost Adoption of 8K Production
LAS VEGAS Technologists working on all aspects of the 8K media production chain offered an optimistic update at the 2024 NAB Show on the state of 8K in video pr...
19/04/2024
OpenDrives New Software-Defined Platform Atlas Wins 2024 NAB Show Product of the Year Award
OpenDrives New Software-Defined Platform Atlas Wins 2024 NAB Show Product of the...
19/04/2024
Grass Valley Showcases Next-Generation T3 Series 4K/HD Digital Recording and Playback for Venues and Stadiums
Grass Valley Showcases Next-Generation T3 Series 4K/HD Digital Recording and Pla...
19/04/2024
NiTRo's M-CUBE Studio Levels Up Esports Productions with AJA Gear
NiTRo's M-CUBE Studio Levels Up Esports Productions with AJA Gear Brie Clayton April 19, 2024 0 Comments Esports' rapid rise to popularity can...
19/04/2024
Blackmagic Design Announces DaVinci Resolve 19
Blackmagic Design Announces DaVinci Resolve 19 Brie Clayton April 19, 2024 0 Comments Major update adds new DaVinci Neural Engine AI tools, new color ...
19/04/2024
Sony Considering Bid to Acquire Paramount
Sony Pictures Entertainment is reportedly in talks with Apollo Global Management to make a bid to acquire Paramount which itself is currently discussing a merge...
19/04/2024
How 1185 Films created the VFX on new horror, All You Need Is Death
Simon Wilkinson, head of VFX at 1185 films, talks about the technology behind the newly-released horror By Matthew Corrigan Published: April 19, 2024 Simo...
19/04/2024
Could Sony be preparing a bid for Channel 5's parent company?
The global electronics company is said to be considering joining forces with investment firm Apollo Management to bid for Paramount Global By Jenny Priestley ...
19/04/2024
EBU report highlights contribution of free-to-air sport broadcasting
The report broke the economic footprint of EBU member sports broadcasting into three main areas By Matthew Corrigan Published: April 19, 2024 The report b...
19/04/2024
CBS Stations Launches CBS News California Investigates' Segments
CBS Stations has launched CBS News California Investigates , with Julie Watts named regional CBS California correspondent. She will uncover and raise awarenes...
19/04/2024
MediaCo Acquires Estrella Media's Spanish-Language Network, Content Assets
MediaCo Holding, which owns radio stations WQHT (Hot 97) and WBLS in New York, said it acquired Estrella Media's Spanish-language video, audio and digital c...
19/04/2024
Season 5 of The Witcher' Will Be Final One
Netflix has ordered season five of fantasy drama The Witcher, which will be the final season. Production has recently begun on season four, and the two remainin...
19/04/2024
DirecTV Stream To Carry Eight More The CW Affiliates
DirecTV Stream said it added eight more The CW affiliates to its lineup on Thursday....
19/04/2024
CBS Orders More Elsbeth'
CBS has renewed Elsbeth for the 2024-2025 season. The drama, with Carrie Preston in the lead role, debuted February 29....
19/04/2024
With Bears on the Clock. NBCU Local Chicago Plans Extensive NFL Draft Coverage
With the Bears picking first, NBCUniversal Local's properties in Chicago plan extensive coverage of the NFL draft next week....
19/04/2024
Comcast Launches NOW
PHILADELPHIA As government subsidies for broadband services come to an end, Comcast has launched NOW, a new product portfolio of lower-cost Internet, mobile and...
19/04/2024
DirecTV Stream Adds CW Affiliates
DirecTV Stream has added more local CW stations for its streaming customers in Boston, Charlotte, Cincinnati, Cleveland, Hartford-New Haven Conn., Phoenix, San ...
19/04/2024
MediaCo Acquires Estrella Media's Content and Digital Operations
NEW YORK & LOS ANGELES MediaCo Holding Inc. has announced that it has acquired all of Estrella Media's network, content, digital, and commercial operations....
19/04/2024
Adobe Launches New Adobe Express Mobile App with Firefly AI
SAN JOSE, Calif. Adobe has announced that the all-new Adobe Express mobile app is available to all users, bringing features powered by Adobe Firefly generative ...
19/04/2024
Netflix Adds 9.3M Subs in Q1
LOS GATOS, Calif. Netflix reported another blockbuster quarter by adding 9.33 million new subscribers in Q1, 2024 as global paid memberships hit 269.6 million, ...
19/04/2024
The Current State of the Industry and the Future Impact of AI
The Current State of the Industry and the Future Impact of AI Hillary Lewis April 18, 2024 0 Comments The Entertainment Industry: How did we get here ...
19/04/2024
After Effects Tutorial Text Blur Reveal
After Effects Tutorial Text Blur Reveal Andy Ford April 18, 2024 0 Comments Here's a way to do a quick blur reveal for your text layer. Start by...
19/04/2024
Hollyland Mars M1 Enhanced Wireless Transmitter / Receiver
Hollyland Mars M1 Enhanced Wireless Transmitter / Receiver Colin Smith April 18, 2024 0 Comments This tutorial shows the new wireless transmitter rece...
19/04/2024
Resolve Fusion: Writing Expressions with Lua
Resolve Fusion: Writing Expressions with Lua Simon Ubsdell April 18, 2024 0 Comments The answer to the very frequently-asked question: what is the pro...
19/04/2024
B+C,' Next TV' Announce Winners of Best of Show Awards at NAB Show
B+C and Next TV have announced the winners of Best of Show Awards for the 2024 NAB Show. The awards were judged by a panel of industry experts at the convention...
19/04/2024
Cate Blanchett Narrates Nature Series on Netflix
Cate Blanchett narrates the Netflix series Our Living World, which premieres April 17. The four-part series looks at the extraordinary creatures around the glob...
19/04/2024
For All Mankind' Spinoff Is in the Works at Apple TV Plus
Apple TV Plus has a spinoff of For All Mankind in the works. It is called Star City and details the cosmonauts, engineers and intelligence officers working behi...
19/04/2024
Jacquie Walker, Longtime Buffalo Anchor, Stepping Down From Desk
Jacquie Walker, longtime anchor at WIVB Buffalo, will step down from the anchor desk. She has spent over 40 years at WIVB and her last day as an anchor is May 2...
19/04/2024
Bob Hearts Abishola' To Make Syndicated Debut This Fall
Bob Hearts Abishola will premiere in broadcast syndication this fall on such station groups as Nexstar Media Group, Sinclair, Hearst Television, Tegna, E.W. Scr...
19/04/2024
Live With Kelly and Mark' Celebrates One-Year Anniversary
Live With Kelly and Mark remains TV's top entertainment talk show as Kelly Ripa and her co-host and husband Mark Consuelo celebrate their one-year anniversa...
19/04/2024
Sean McLaughlin Named VP of News at Graham Media Group
Sean McLaughlin has been named VP of news for Graham Media Group. He had been senior VP of local news at E.W. Scripps. He will will be responsible for developi...
19/04/2024
Netflix Shares First Peek at Long-Awaited One Hundred Years of Solitude'
Netflix has shared the first trailer from One Hundred Years of Solitude, a series based on the esteemed novel by Gabriel Garc a M rquez. The streamer is on boar...
19/04/2024
NAB 2024 in Review: West Hall - SportsTech Buzz From AWS, Appear, Ateme, The Switch, TATA Communications, Telstra, TVU Networks, Verizon, and More
NAB 2024 in Review: West Hall - SportsTech Buzz From AWS, Appear, Ateme, The Swi...
19/04/2024
NAB 2024 Draws 61,000+ Attendees With More Than Half Attending the Show for the First Time
NAB 2024 Draws 61,000+ Attendees With More Than Half Attending the Show for the ...
19/04/2024
Rohde & Schwarz and VIAVI support European OTIC in Berlin for O-RAN conformance certification
Rohde & Schwarz and VIAVI support European OTIC in Berlin for O-RAN conformance ...
19/04/2024
Riedel launches Bolero Connect for seamless integration with PunQtum
Wuppertal April 19, 2024 Riedel launches Bolero Connect for seamless integration with PunQtum A pioneer in the field of digital intercom, Riedel has recently ...