Akamai Technologies, Inc. (NASDAQ:AKAM) Q2 2023 Earnings Conference Call August 8, 2023 4:30 PM ET

Company Participants

Tom Barth - Investor Relations

Tom Leighton - Chief Executive Officer

Ed McGowan - Chief Financial Officer

Conference Call Participants

James Fish - Piper Sandler

Keith Weiss - Morgan Stanley

Ray McDonough - Guggenheim Securities

Frank Louthan - Raymond James

Rishi Jaluria - RBC

Rudy Kessinger - D.A. Davidson

Amit Daryanani - Evercore

Operator

Good day and welcome to the Akamai Technologies Second Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note that this event is being recorded. Now I’d like to turn the call over to Mr. Tom Barth, Head of Investor Relations. Please go ahead, sir.

Tom Barth

Thank you, operator. Good afternoon, everyone and thank you for joining Akamai’s second quarter 2022 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 quarterly reports on Form 10-Q. The forward-looking statements included in this call represent Akamai’s view on August 9, 2022. 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 some 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.

And with that, let me turn the call over to Tom.

Tom Leighton

Thanks, Tom, and thank you all for joining us today. I’m pleased to report that Akamai delivered strong results in the second quarter despite the ongoing challenges with the global economic environment and slower Internet traffic growth. Q2 revenue was $903 million, up 6% year-over-year and up 9% in constant currency. This result was driven by the continued rapid growth of our security and compute businesses, which when taken together were up 30% in constant currency. These two business lines now account for 54% of our overall revenue.