Mon, Feb 24, 10:12 PM (61 days ago)
**Akamai Technologies, Inc. (AKAM) 2024 Financial Summary** For the fiscal year ended December 31, 2024, Akamai Technologies reported total revenue of $3,991,168, up 4.7% from 2023, driven primarily by a 15.7% increase in security solutions revenue. However, delivery revenue declined by 14.5% due to reduced traffic from key customers amid economic pressures. Net income for 2024 was $504,918, representing a net income margin of 12.7%. Operating expenses rose to $3,457,757, influenced by higher co-location and payroll costs, including stock-based compensation. Akamai's strategic focus on security and compute services is underscored by recent acquisitions, including Noname Security, which is expected to enhance its API security offerings. The company faces risks from global economic conditions, including inflation and geopolitical tensions, which may impact customer spending and traffic levels. The company maintains a strong financial condition with cash and marketable securities totaling $1.9 billion as of year-end 2024. Akamai's share repurchase program remains robust, with $2 billion authorized for future buybacks. The outlook for 2025 indicates cautious revenue growth due to anticipated continued challenges in the delivery segment.