2024-05-09 19:52:12 ET
Akamai Technologies, Inc. (AKAM)
Q1 2024 Earnings Conference Call
May 09, 2024 04:30 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
Presentation
Operator
Good day and welcome to the First Quarter 2024 Akamai Technologies Incorporated Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions]
Please note this event is being recorded. I would now like to turn the conference over to Mark Stoutenberg, Head of Investor Relations. Please go ahead.
Mark Stoutenberg
Thank you, operator. Good afternoon, everyone, and thank you for joining Akamai's First Quarter 2024 Earnings Call. Speaking today will be Tom Leighton, Akamai's Chief Executive Officer and Ed McGowan, Akamai's Chief Financial Officer. Please note that today's comments include forward-looking statements, including statements regarding revenue and earnings guidance. These forward-looking statements are subject to risks and uncertainties and involve a number of factors that could cause actual results to differ materially from those expressed or implied by such statements.
The factors include any impact from macroeconomic trends, the integration of any acquisitions, and any impact from geopolitical developments. Additional information concerning these factors is contained in Akamai's filings with the SEC, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. The forward-looking statements included in this call represent the company's view on May 9th, 2024.
Akamai disclaims any obligation to update these statements to reflect new information, future events, or circumstances, except as required by law. As a reminder, we will be referring to certain non-GAAP financial metrics during today's call. A detailed reconciliation of GAAP and non-GAAP metrics can be found under the financial portion of the Investor Relations section of akamai.com. I will now hand the call off to our CEO, Dr. Tom Leighton.
Tom Leighton
Thanks, Mark. Akamai got off to a strong start for the year with our Security and Compute portfolios. And we continued to experience industry headwinds with our delivery product-line. First quarter revenue grew to $987 million, up 8% year-over-year as reported and in constant currency. Non-GAAP operating margin was 30% and non-GAAP earnings per share was $1.64, up 17% year-over-year and up 18% in constant currency....
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Akamai Technologies, Inc. (AKAM) Q1 2024 Earnings Call Transcript