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Akamai Technologies reports better than expected q3 results By Investing.com

© Reuters. Akamai Technologies reports better than expected Q3 results
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By Davit Kirakosyan

Akamai Technologies (NASDAQ:) reported its , with EPS of $1.26 coming in better than the consensus estimate of $1.22.

Revenue grew 3% year-over-year (up 7% when adjusted for foreign exchange) to $882 million, beating the consensus estimate of $875.83M. U.S. revenue grew 3% year-over-year to $461M, while International revenue was up 2% year-over-year to $421M.

“Akamai delivered another quarter of solid results despite global macroeconomic challenges, including foreign exchange headwinds. Our performance continued to be led by the strong growth of our security and compute product groups, which collectively grew 23% year-over-year and 28% when adjusted for foreign exchange comprising 55% of our overall revenue,” said Dr. Tom Leighton, Akamai’s CEO.

Story Credit: investing.com

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