Aug 7 (Reuters) - Akamai Technologies ( AKAM ) raised
its annual revenue and profit forecast on Thursday, helped by
steady demand for its cloud infrastructure services and content
delivery network offerings.
The company is seeing strong momentum in its security and
compute verticals, as enterprises ramp up investments in
securing applications and web infrastructure amid the
accelerating adoption of cloud technologies.
Akamai ( AKAM ) is also well-positioned to benefit from the surge in
mobile data traffic, fueled by the growing use of mobile apps
and services.
It provides content delivery network services to optimize
web performance and reduce bandwidth congestion. It also offers
cloud infrastructure solutions that improve the security and
reliability of apps and web assets from data centers to end
users.
Akamai's ( AKAM ) customers include Adobe, eBay ( EBAY ) and
Electronic Arts ( EA ), as well as the U.S. Defense and Labor
departments.
The cybersecurity company now expects annual revenue between
$4.14 billion and $4.21 billion, ahead of its prior projection
of $4.05 billion to $4.20 billion.
On an adjusted basis, Akamai ( AKAM ) sees per-share earnings in the
range of $6.60 to $6.80, from its earlier forecast of between
$6.10 and $6.40 apiece.
It expects revenue between $1.04 billion and $1.05 billion
for the third quarter, compared with the analysts' average
estimate of $1.04 billion, according to data compiled by LSEG.
Akamai ( AKAM ) posted revenue of $1.04 billion for the quarter ended
June 30, compared to analysts' consensus estimate of $1.02
billion.