Akamai Technologies, Inc. (NASDAQ:AKAM) stock rose 6.21% (As on November 9, 12:09:37 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the third quarter of FY 22. Security revenue rose 13% year-over-year, to $380 million, delivery revenue fell 15%, to $393 million, and compute revenue jumped 72%, to $109 million. Akamai’s revenue in the U.S. was up 3% year-over-year to $461 million, while its international revenue inched up 2%, to $421 million. Delivery revenue was $393 million, down 15% year-over-year and down 11% when adjusted for foreign exchange. Compute revenue was $109 million, up 72% year-over-year and up 77% when adjusted for foreign exchange. U.S. revenue was $461 million, up 3% year-over-year. Net income plunged 40% from a year ago, to $243 million, while adjusted income fell 16%, to $200 million. Adjusted earnings before interest, taxes, depreciation and amortization fell 7%, to $368 million. Akamai also spent $163 million in its third quarter to repurchase 1.8 million shares of its common stock at $90.93 per share. Cash from operations for the third quarter of 2022 was $369 million, or 42% of revenue. Cash, cash equivalents and marketable securities was $1.4 billion as of September 30, 2022. Non-GAAP income from operations was $243 million, a 12% decrease from third quarter 2021. Non-GAAP operating margin for the third quarter was 28%, down 4 percentage points compared to the same period last year.

AKAM in the third quarter of FY 22 has reported the adjusted earnings per share of $1.26, beating the analysts’ estimates for the adjusted earnings per share of $1.22. The company had reported the adjusted revenue growth of 3 percent to $882 million in the third quarter of FY 22, beating the analysts’ estimates for revenue of $875.83 million.

AKAM expects adjusted net income per diluted share of $1.23 to $1.30 on revenue of $890 million to $915 million. For the full year, earnings are expected to be $5.23 to $5.30 a share on revenue of $3.58 billion to $3.6 billion.

On the other hand, Akamai found that 20% of all new domain names registered, some 79 million, were registered for malicious purposes. On a typical day, Akamai’s researchers observed about 12 million newly observed domain names in total, of which a little over 2 million were successfully resolved. Over the first six months of 2022, 79 million resolved domain names were flagged as malicious.