Aug 8 (Reuters) - Akamai Technologies ( AKAM ) forecast

third-quarter revenue and profit above estimates on Thursday,

betting on strong demand for its cybersecurity services as

businesses spend heavily on safeguarding their systems against

rising threats from hackers.

Shares of the Cambridge, Massachusetts-based company rose 4%

in extended trading.

Akamai ( AKAM ) expects third-quarter revenue in the range of $988

million to $1.01 billion, compared with analysts' average

estimate of $996.7 million, according to LSEG data.

Akamai ( AKAM ) also narrowed its expected range for 2024 total sales

to between $3.97 billion and $4.01 billion, compared with its

previous forecast of between $3.95 billion and $4.02 billion.

The midpoint remains unchanged at $3.99 billion, in line with

estimates.

The company has also noted that the rise of generative

artificial intelligence has made it easier for attackers to

launch malware and ransomware, helping demand for its services,

TD Cowen analysts wrote in a research note published in May.

Akamai ( AKAM ) forecast quarterly adjusted net income of between

$1.56 to $1.62 per share, above estimates of $1.54 per share.

The company also provides cloud platforms and content

delivery services which help speed up the delivery of web

content. Its customers include Adobe, eBay ( EBAY ) and

Electronic Arts ( EA ), as well as the U.S. Defense and Labor

departments.

Akamai's ( AKAM ) second-quarter revenue rose 5% to $980 million,

beating estimates of $977.2 million.