Technology

Akamai Techs Q1 2024 Adj EPS $1.64 Beats $1.61 Estimate, Sales $987.000M Miss $989.261M Estimate

Akamai Techs (NASDAQ:AKAM) reported quarterly earnings of $1.64 per share which beat the analyst consensus estimate of $1.61 by 1.86 percent. The company reported quarterly sales of $987.000 million which missed the analyst consensus estimate of $989.261 million by 0.23 percent. This is a 7.79 percent increase over sales of $915.698 million the same period last year.

Akamai Techs Q1 2024 Adj EPS $1.64 Beats $1.61 Estimate, Sales $987.000M Miss $989.261M Estimate Read Post »

Akamai(AKAM.US) Q1 2024 Earnings Conference

The following is a summary of the Akamai Technologies, Inc. (AKAM) Q1 2024 Earnings Call Transcript: Financial Performance: Akamai Technologies reported Q1 revenue of $987 million, up 8% year-over-year both as reported and in constant currency. Non-GAAP operating margin was 30%, with non-GAAP earnings per share at $1.64, up 17% year-over-year, and 18% in constant currency. Revenue from security and cloud computing, representing about two-thirds of total Q1 revenue, grew 22% over Q1 of 2023. The company’s Content Delivery Network (CDN) saw an 11% decline in revenue year-over-year. Akamai expects compute revenue growth of about 21% to 23% in fiscal year 2024. Projections for full year capital expenditure (CapEx) sit at around 16% of total revenue. Business Progress: The company progressed in its Security and Compute portfolios, with security revenue growing by 21% year-over-year in Q1, driven by demand for Akamai’s Guardicore Segmentation Solution. Akamai announced the upcoming acquisition of

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CFRA Maintains Hold Opinion On Shares Of Arm Holdings Plc

We adjust our 12-month target to $120 from $140, on a lower revised peer-premium P/E of 64.8x our CY 25 EPS estimate, warranted given our view of growth prospects. We adjust our FY 25 (Mar.) EPS estimate to $1.60 from $1.76 and FY 26’s to $1.92 from $2.00. ARM posts Mar-Q EPS of $0.36, beating the $0.31 consensus. Revenue rose 47%, well ahead of expectations, led by higher royalty (+37%) and licensing sales (+60%). Jun-Q revenue/EPS guide exceeded consensus views, but full-year FY 25 was more tempered (still implies +20% Y/Y growth). The shift towards v9-architecture from v8 remains an opportunity (20% of royalties), which is supporting higher revenue within smartphones and share gain opportunities in automotive/hyperscalers. Although valuation remains a concern, the growth trajectory is extremely attractive (we see +20% annually through FY 27) given cloud share gain from next-gen AI GPUs and CPUs expected to enter the market,

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Intel Now Sees Q2 Revenue Below Midpoint of $12.5 Billion to $13.5 Billion Range

Intel (INTC) updated its Q2 outlook after the US Commerce Department notified the company Tuesday that it was revoking certain licenses for exports of consumer-related items to a customer in China, effective immediately. As a result, the company now expects Q2 revenue to remain in the original range of $12.5 billion to $13.5 billion but below the midpoint, according to a regulatory filing. For full-year 2024, Intel continues to expect revenue and earnings per share to grow year over year versus 2023.

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DoorDash Seen Retaining Market Dominance Despite Uber Eats, Instacart Collaboration, Deutsche Bank Says

DoorDash (DASH) is likely to maintain its market leadership in the face of the collaboration between Uber Technologies’ (UBER) Uber Eats and Instacart (CART), Deutsche Bank said Wednesday in a note. Uber Eats and Instacart on Tuesday announced they are integrating UberEats’ restaurant offerings into the Instacart platform. While this may pose some challenges to DoorDash’s primary operations, “we believe that the ultimate orders at risk via this partnership is at most” 4% to 7% of Wall Street’s 2024 and 2025 estimates,” Deutsche Bank said. “If we assume that DoorDash successfully holds on to some percentage of these orders, the potential share loss implications are even lower,” Deutsche Bank said. Deutsche Bank has a buy rating on DoorDash with a price target of $155. DoorDash shares fell 3.7% in recent trading Wednesday. Uber slumped 8.5% after posting a surprise Q1 loss, and Instacart dropped 1.9%.

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Arm Holdings Fiscal Q4 Non-GAAP Earnings, Revenue Rise; Fiscal Q1, 2025 Outlook Set

Arm Holdings (ARM) reported fiscal Q4 non-GAAP earnings late Wednesday of $0.36 per diluted share, up from $0.02 a year earlier. Analysts surveyed by Capital IQ expected $0.30. Revenue for the quarter ended March 31 was $928 million, up from $633 million a year earlier. Analysts surveyed by Capital IQ expected $878.2 million. The company said it expects fiscal Q1 non-GAAP EPS of $0.32 to $0.36 on revenue of $875 million to $925 million. Analysts surveyed by Capital IQ expect non-GAAP EPS of $0.31 and revenue of $864.4 million. Arm expects fiscal year 2025 non-GAAP EPS of $1.45 to $1.65 on revenue of $3.80 billion to $4.10 billion. Analysts surveyed by Capital IQ expect non-GAAP EPS of $1.53 and revenue of $3.98 billion. The shares of the company were down 8% in after-hours trading.

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ARM Holdings Plc (ARM) Q4 2024 Earnings Call Transcript

ARM Holdings Plc (NASDAQ:ARM) Q4 2024 Earnings Call Transcript May 8, 2024 5:00 PM ET Company Participants Ian Thornton – VP, IR Rene Haas – CEO Jason Child – CFO Conference Call Participants Ross Seymore – Deutsche Bank Vivek Arya – Bank of America Securities Matt Ramsay – TD Cowen Mehdi Hosseini – Susquehanna International Group Charles Shi – Needham & Company Toshiya Hari – Goldman Sachs Ananda Baruah – Loop Capital Gary Mobley – Wells Fargo Lee Simpson – Morgan Stanley Timm Schulze-Melander – Redburn Atlantic Harlan Sur – JPMorgan Operator Good day, and thank you for standing by. Welcome to the ARM Fourth Quarter Fiscal Year Ending 2024 Conference Call. At this time, all participants are in a listen only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded. I would now like to hand

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Microsoft to Invest Over $3 Billion to Build AI in Wisconsin — WSJ

By Tom Dotan Microsoft said it is investing billions of dollars on artificial intelligence in Wisconsin, the latest stop in a global spending spree to build AI infrastructure and calm fears about the powerful technology. President Biden is scheduled to be in Mount Pleasant, Wis., on Wednesday along with Microsoft President Brad Smith to announce the $3.3 billion investment in a new data center there and training programs to educate locals about AI jobs in manufacturing. The announcement is the latest in a series of large investments the company has unveiled in the U.S., Europe and Asia to expand the reach of its AI network. Microsoft said the new site would initially create 2,300 construction jobs and eventually as many as 2,000 data center jobs. Microsoft said it is also investing in a new AI lab at the University of Wisconsin Milwaukee campus to train workers to use AI technology.

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CFRA Maintains Buy Opinion On Shares Of Apple Inc.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: AAPL is fully revamping its iPad line-up with a larger 13-inch iPad Air and new M4 chips (from M2) for iPad Pros. The Pros also possess a better Tandem OLED display panel and have better camera features (11-inch at $999, up from $799; 13-inch at $1,299, up from $1,099). The iPad Air devices get the M2 (11-inch $599, 13-inch $799), while AAPL also announced a new Apple Pencil Pro ($129) with haptic feedback and enhanced Magic Keyboard. All devices can be ordered today/available May 15 (storage for Pros start at 256GB/Air at 128GB). We believe the M4 release less than seven months after the M3 (inside Macs) indicates how AAPL is looking to accelerate hardware capabilities to meet potential new AI apps/software capabilities (eyes on WWDC) and

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Qualcomm (QCOM) Q2 2024 Earnings Call Transcript

Qualcomm (QCOM)Q2 2024 Earnings CallMay 01, 2024, 4:45 p.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks:   Operator Ladies and gentlemen, thank you for standing by. Welcome to the Qualcomm second quarter fiscal 2024 earnings conference call. At this time, all participants are in listen-only mode. Later, we’ll conduct a question-and-answer session. [Operator instructions] As a reminder, this conference is being recorded, May 1st, 2024. The playback number for today’s call is 877-660-6853. International callers, please dial 201-612-7415. The playback reservation number is 13745532. I would now like to turn the call over to Mauricio Lopez-Hodoyan, vice president of investor relations. Mr. Lopez-Hodoyan, please go ahead. Mauricio Lopez-Hodoyan — Vice President, Investor Relations Thank you, and good afternoon, everyone. Today’s call will include prepared remarks by Cristiano Amon and Akash Palkhiwala. In addition, Alex Rogers will join the question-and-answer session. You can access our earnings release and a slide presentation

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Meta Platforms Gets a Rare Sell Rating. AI Is Expensive. — Barrons.com Barron’s

By Angela Palumbo Meta Platforms stock has soared this year on confidence in the company’s generative artificial intelligence initiatives. But management’s plans to spend heavily on AI are a reason to sell the stock, according to BNP Paribas. Analyst Stefan Slowinksi initiated coverage of Meta with an Underperform rating and a target of $360 for the price. That implies a decline of 18% from Wednesday’s closing price of $439.19. Slowinksi cited the high cost of investing aggressively in generative AI, plus the fact that he believes “Meta has no new revenue streams to replenish its resources, which will also continue to be drained by its Metaverse adventures.” Meta didn’t immediately respond to a request for comment. Only three Wall Street analysts, including Slowinski, rate Facebook’s parent company at Sell, or the equivalent. Of the 67 analysts tracked by FactSet, 57 say the stock is a Buy, while seven say it

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CFRA Maintains Buy Opinion On Shares Of Doordash, Inc.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We cut our 12-month target $18 to $140, on a P/E of 40x our ’25 EPS view, above peers to reflect financial strength (net cash of $4B). We lift our ’24 EPS view to $2.86 from $2.75 and cut ’25’s to $3.50 from $3.96. DASH posted Q1 adjusted EBITDA of $371M vs. $204M, surpassing the $365M consensus. Top-line growth of +23% also exceeded expectations, fueled by a 21% rise in Marketplace GOV and a 21% increase in total orders to 620M. Key drivers include the continued momentum of DashPass, Dash’s subscription offering, and the rapid expansion of its grocery vertical (+100% in the U.S.). Looking ahead, we remain bullish on DASH given the substantial growth runways across its offerings, supported by secular tailwinds in the gig economy.

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