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Major U.S. equities indexes were mixed on Friday after the latest data from the University of Michigan's Consumer Sentiment Index showed sentiment declined sharply in May, falling to its lowest level in six months. Inflation remained at the forefront of consumers' concerns.
Akamai CEO Tom Leighton joins Caroline Hyde to discuss the company's recent earnings, which sent shares tumbling after its forecast adjusted earnings per share for the second quarter missed the average analyst estimate. He also talks about generative AI's role in security breaches and a potential TikTok ban on "Bloomberg Technology.
AKAM (AKAM) reports a top-line expansion year over year in the first quarter of 2024, backed by strong demand for security and cloud computing solutions.
Akamai Technologies Inc (NASDAQ: AKAM) needs to merge with the likes of Cloudflare or Fastly, as per Jim Cramer. Shares of the Cambridge-headquartered firm are down 8.0% on Friday.
CNBC's Jim Cramer delivers his daily Mad Dash.
Akamai Technologies (AKAM) posted quarterly earnings that came in ahead of Wall Street forecasts but provided guidance that fell short of expectations, sending shares in the software infrastructure company tumbling more than 10% ahead of the opening bell Friday morning.
Akamai Technologies, Inc. (NASDAQ:AKAM ) Q1 2024 Earnings Conference Call May 9, 2024 4:30 PM ET Company Participants Mark Stoutenberg - Head of IR Tom Leighton - CEO & Co-Founder Ed McGowan - EVP, CFO Conference Call Participants Madeline Brooks - Bank of America Joshua Baer - Morgan Stanley James Fish - Piper Sandler Fatima Boolani - Citi Mark Murphy - JPMorgan Frank Louthan - Raymond James Jonathan Ho - William Blair Alex Henderson - Needham Rudy Kessinger - D.A. Davidson Tom Blakey - KeyBanc Capital Markets Operator Good day and welcome to the First Quarter 2024 Akamai Technologies Incorporated Earnings Conference Call.
The headline numbers for Akamai Technologies (AKAM) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Akamai (AKAM) is expected to report a top-line expansion year over year, backed by healthy demand trends in several verticals.
A couple of weeks ago, TechCrunch broke the news that Akamai was in discussions to acquire Noname Security, a specialist in API security, for around $500 million. Today the deal is official, albeit at a lower price.