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McAfee, Akamai Q1 reports maximum expectations for growth in security technology

Security legend McAfee, which has abandoned its enterprise business, and bandwidth provider Akamai Technologies, which is moving to enterprise security companies, reported first-quarter results that exceeded analysts’ expectations this afternoon. did.

Akamai said security software and services sales reached $ 310 million, up 29% year-on-year.

According to McAfee, the consumer security business, excluding revenue from the enterprise business sold by McAfee, increased 25% year-on-year.

McAfee and Akamai shares remained unchanged in the second half of the transaction.

Akamai CEO Tom Leighton said the company was “happy with the great start of 2021” and “revenue, profit margin and revenue are all [exceeded] Expectations. “

“We continued to take advantage of substantial business opportunities, as evidenced by the extremely strong growth of security and edge application solutions and the significant increase in traffic on the Akamai Intelligent Edge platform,” Layton added. It was.

Akamai’s total revenue for the three months ended in March was $ 843 million, up 10% from the previous year, with net income per share of $ 1.38.

Analysts modeled $ 830 million and $ 1.30 per share.

Akamai did not provide a forecast.

For the three months ended in March, McAfee’s total revenue increased 13% year-on-year to $ 733 million, with net income per share of 44 cents.

Analysts modeled $ 732 million, 36 cents per share.

McAfee announced on March 8 that it will sell its enterprise security business to private-equity fund Symphony Technology Group for $ 4 billion in cash. The enterprise business is classified as a “discontinued business” in the quarterly financial results, and the remaining consumer business is a continuing business.

McAfee’s revenue for the quarter is expected to be between $ 430 million and $ 434 million from the rest of the business, excluding businesses. For the full year, the company expects revenue from continuing operations to range from $ 1.77 billion to $ 1.79 billion.

McAfee, Akamai Q1 reports maximum expectations for growth in security technology

Source link McAfee, Akamai Q1 reports maximum expectations for growth in security technology

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