Akamai Technologies: Expanding Security Offerings to Augment Product Capabilities & Market Reach!

The fourth quarter earnings results of Akamai Technologies, Inc. reveal a mixed performance with notable strengths and areas of concern. Akamai reported revenue of $1.02 billion for Q4 2024, marking a 3% increase both on a reported and constant currency basis. Non-GAAP earnings per share exceeded guidance at $1.66. A significant development for Akamai is the transformation towards focusing on cybersecurity and cloud computing. A highlight for Akamai was the robust growth in its security segment, which for the first time delivered the majority of its annual revenue, surpassing $2 billion and growing by 16% year-over-year. The security segment includes solutions such as the Guardicore platform and API Security that showed strong performance with annual recurring revenue (ARR) growth of 31% and over $57 million respectively. The company’s cloud computing portfolio also performed well, recording $630 million in revenue, a 25% increase over the previous year.