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Akamai Technologies, Inc. (NASDAQ: AKAM) came with earnings results on Tuesday that matched analysts’ expectations.
Tom Leighton, Akamai Technologies CEO was on CNBC Wednesday to discuss the company's latest earnings.
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Growth Looks Slower
“When you convert that revenue back to dollars, it comes out as a lower amount than dollars,” Leighton said. “So it makes the growth look a little bit slower than it really is.”
Close On Estimates
Leighton was asked that whether in Akamai’s case analysts had forgotten to take into account the impact of the rise in dollar while calculating their quarterly estimates. He replied, “Oh, I think they do factor it in over time and sometimes getting a latest adjustments can be hard and I think we were pretty close on the estimates in terms of what the analysts were forecasting.”
He continued, “I think the important thing to remember is that the business is very strong, very strong overseas and that this artificial conversion as we report earnings really has nothing to do with the success of the company.”
Security
On Akamai’s internet security business Leighton remarked, “Yeah, security is our fastest-growing business, very important to our enterprise customers. There’s a wide range of entities trying to bring down websites, embarrass accompanies, steal data, corrupt the content on news sites, for example, to report their own story and we stop those attacks by intercepting the attacks, where the attacker is, before the attack can get through the data centre that hosts the website.”
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.