04:25 PM EDT, 05/09/2024 (MT Newswires) -- Akamai Technologies ( AKAM ) reported Q1 non-GAAP earnings Thursday of $1.64 per diluted share, up from $1.40 a year earlier.

Analysts polled by Capital IQ expected $1.61.

Revenue for the quarter ended March 31 was $987 million, up from $915.7 million a year earlier.

Analysts surveyed by Capital IQ expected $989.2 million.

The company said it expects Q2 non-GAAP diluted EPS between $1.51 and $1.56 and revenue between $967 million and $986 million.

Analysts polled by Capital IQ expect normalized EPS of $1.64 and revenue of $1 billion.

For 2024, the company expects non-GAAP diluted EPS between $6.20 and $6.40 on revenue of $3.95 billion to $4.02 billion.

Analysts surveyed by Capital IQ expect normalized EPS of $6.73 and revenue of $4.08 billion.

Akamai Technologies ( AKAM ) said its board approved a new $2 billion share buyback program that will run through June 2027.

The company's shares were down 8.8% in after-hours trading.

Price: 93.45, Change: -9.01, Percent Change: -8.79