💨 Abstract

Akamai Technologies forecasts a lower-than-expected fourth-quarter revenue due to clients tightening spending in response to an uncertain macroeconomic environment. The company, which offers cloud and content delivery services, saw a drop in shares by 9% in extended trading. The decline is due to higher interest rates, inflation, and clients optimizing their businesses to cut costs. Akamai expects Q4 revenue between $995 million and $1.02

Courtesy: theprint.in

Summarized by Einstein Beta 🤖