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![AKAMAI TECHNOLOGIES INC [AKAM] reports annual net loss of $547.6 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FAKAM.png&w=1200&q=75)
AKAMAI TECHNOLOGIES INC [AKAM] has reported a net loss of $547.6 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $3.8 billion
Based in CAMBRIDGE, Massachusetts, AKAMAI TECHNOLOGIES INC operates in the SERVICES sector.
In the fiscal year ended December 31, 2023, the company reported total revenue of $3.81 billion, marking an increase from the previous year's total revenue of $3.62 billion in 2022 and $3.46 billion in 2021.
Costs and operating expenses for the year included cost of revenue at $1.51 billion, research and development expenses at $406.05 million, sales and marketing expenses at $533.23 million, general and administrative expenses at $600.85 million, amortization of acquired intangible assets at $66.75 million, and restructuring charges at $56.64 million. The total costs and operating expenses amounted to $3.17 billion in 2023, showing an increase from $2.94 billion in 2022 and $2.68 billion in 2021.
Income from operations for the year was reported at $637.34 million, which decreased from $676.27 million in 2022 and $783.15 million in 2021. Interest and marketable securities income, net, totaled $45.19 million, interest expenses were $(17.71) million, and other income amounted to $(12.30) million.
The company reported net income of $547.63 million for 2023, showing a slight increase from $523.67 million in 2022 and a decrease from $651.64 million in 2021. The basic earnings per share were $3.59 in 2023, $3.29 in 2022, and $4.01 in 2021, while diluted earnings per share were $3.52 in 2023, $3.26 in 2022, and $3.93 in 2021.
The number of shares used in per share calculations decreased to 152.51 million shares for basic and 155.40 million shares for diluted in 2023, compared to 159.09 million and 160.47 million in 2022, and 162.67 million and 165.80 million in 2021, respectively.
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