Akamai Technologies, Inc. (NASDAQ: AKAM) stock rose over 7% on 31st, July, 2019 (As of 11:07 am GMT-4; Source: Google finance) after the company posted better than expected results for the second quarter of FY 19. AKAM has exceed the high end of the guidance range on revenue, operating margin, and earnings, and the company remain confident to achieve the goal of 30% non-GAAP operating margins in 2020. The adjusted EBITDA was $293 million, down $6 million from Q1 levels but up $31 million or 12% from the same period in 2018.
AKAM in the second quarter of FY 19 has reported the adjusted earnings per share of $1.07, beating the analysts’ estimates for the adjusted earnings per share of $1.00, according to the analysts polled by FactSet. The company had reported the adjusted revenue growth of 6 percent to $705 million in the second quarter of FY 19, beating the analysts’ estimates for revenue of $696 million. The revenue growth is driven by strong Security growth and higher-than-expected OTT video traffic. Revenue from the company Web Division was $380 million, up 8% year-over-year or 10% in constant currency. Revenue growth for this group of customers continues to be driven by the strong Security business where the company saw strong performance across multiple security offerings, including Bot Manager, Kona Site Defender, and Prolexic. In addition, the company continue to see very solid year-over-year growth in both the Asia-Pacific region and in EMEA. Revenue from the Media and Carrier Division was $325 million, up 4% year-over-year or 6% in constant currency.
Moreover, the sales in the international markets continued to be strong and represented 41% of total revenue in Q2, up 3 points from Q2 2018, consistent with Q1 levels. International revenue was $288 million in the second quarter, up 15% year-over-year or 20% in constant currency. The revenue from the US market was $417 million, up 1% year-over-year, which is a 2 point improvement from year-over-year growth in the first quarter.
Meanwhile, in the media business, the company continues to grow traffic faster in Q2 than published growth rates for the Internet as a whole, which means that we continued to gain share. Online viewing of live sports in particular has grown dramatically this year. On July 9th, the ICC’s Cricket World Cup Semifinal between India and New Zealand attracted over 25 million concurrent viewers to the Akamai platform. That’s 36% more than the previous record set in May, and it’s triple the peak that the company reached in May of last year.