Akamai (AKAM) Q4 2023 beats EPS expectations on light revenue miss
The cloud data and security company put out mixed results against analyst expectations on its latest quarter.
As we continue through the newest season of earnings results, cloud data and security company Akamai (Stock symbol: AKAM) was one of the most recent to report. Its Q4 2023 earnings results just came out and they were a mixed bag for the company. Akamai wasn’t able to meet revenue expectations from Wall Street analysts, but it did manage to overcome all expectations for earnings-per-share (EPS).
Akamai reported its Q4 2023 earnings results on its investor relations website this week. The company put out an actual revenue of $995 million USD. That fell just short of Wall Street expectations that called for around $998 million. On the flipside, Akamai was able to put up an EPS of $1.69 per share. That overcame both the Wall Street estimate of $1.60 per share, as well as the Earnings Whisper estimate, which called for $1.62 per share.
Akamai has been around for over two and a half decades and provided a variety of backend tools and products for companies and their networks. Its main product is cloud services, offering data storage and protection, but it also works in cybersecurity, offering infrastructure to protect and maintain networks, as well as products like DDoS mitigation. The company competes most directly with the likes of Amazon Web Services, but supplies backend services to a wide variety of companies.
Akamai may not have beaten revenue estimates for Q4 2023, but it only missed by a hair and won out against EPS expectations. For more reporting on company earnings results, stay tuned here at Shacknews.
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replyTJ Denzer posted a new article, Akamai (AKAM) Q4 2023 beats EPS expectations on light revenue miss
