Akamai Technologies Inc. (NASDAQ: AKAM) shares rose 10% in intra-day trading on Friday after the cybersecurity and cloud services firm reported better-than-expected third-quarter results and lifted its full-year outlook.
The company reported adjusted earnings of $1.86 per share, well above analyst estimates of $1.64. Revenue reached $1.055 billion, topping expectations of $1.04 billion and marking a 5% year-over-year increase, or 4% on a constant-currency basis.
Akamai’s security business continued to drive growth, with revenue up 10% year over year to $568 million. Cloud Infrastructure Services revenue surged 39% to $81 million, while content delivery revenue fell 4% to $306 million.
Investors welcomed the results and guidance, with the company forecasting fourth-quarter revenue between $1.065 billion and $1.085 billion and adjusted earnings per share in the $1.65–$1.85 range, both at or above market expectations.
For 2025, Akamai raised its revenue outlook to $4.178 billion–$4.198 billion and its adjusted EPS guidance to $6.93–$7.13, surpassing consensus projections of $4.175 billion and $6.72, respectively.
