Akamai Technologies, Inc. reported its financial results for the third quarter ended September 30, 2024, on November 7, 2024. The company achieved total revenue of $1.005 billion, marking a 4% increase over the third quarter of 2023. Non-GAAP diluted earnings per share (EPS) were $1.59, a 2% decrease from the prior year, while GAAP net income per diluted share was $0.38, a 63% decrease, impacted by an $82 million restructuring charge.
Security and cloud computing solutions continued to show momentum, with combined revenue growing 17% year-over-year and representing 68% of total revenue. However, the company's delivery segment revenue was $319.1 million, a 16% decrease year-over-year. Dr. Tom Leighton, Akamai's CEO, noted the milestone of surpassing the billion-dollar quarterly revenue threshold for the first time.
For the fourth quarter of 2024, Akamai provided guidance projecting revenue between $995 million and $1.020 billion. Non-GAAP diluted EPS is expected to range from $1.49 to $1.56. This outlook reflects anticipated continued headwinds in the delivery segment and a pullback in client spending on cloud and content delivery services.
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