Akamai Technologies (AKAM) Reports $1.1B Revenue, Endorsed by Cramer
Published on · Source: finance.yahoo.com
AI Summary
Summarized by AI from the source belowAkamai Technologies (AKAM) reported revenue of $1.1 billion, marking a 5% increase from the prior year. The company's security revenue was $604 million, up 10%, and cloud infrastructure revenue hit $99 million, up 39%. Jim Cramer endorsed Akamai during his show, labeling it a terrific buy, highlighting its shift towards higher-margin cybersecurity and cloud services. Akamai has secured over $2.8 billion in multi-year cloud deals, including a significant $1.8 billion contract with Anthropic. This is relevant for investors as it indicates potential future growth driven by AI and security revenue.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Akamai Technologies (AKAM)
Akamai operates a content-delivery network and cloud-security services.
The Information Technology sector covers hardware, software and semiconductor companies driving the digital economy.
Earlier AKAM news
- Anthropic (AI) secures $1.8bn cloud deal with Akamai Technologies
- Akamai (AKAM) Stock Surges 22% Following $1.8B AI Deal
- Cloudflare (NET) and Akamai (AKAM) Show Pre-Market Movement
- Akamai (AKAM) Stock Reaches 52-Week High of 121.13 USD
- Akamai (AKAM) Stock Rating Cut After 33% Rally in Valuation
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