Amid the broad market sell-off, the cyber security industry appears well poised on higher IT spending budgets, increased cybercrimes and better-than-expected earnings for the July-September quarter. Most of the cyber security firms beat the Zacks Consensus Estimate for both earnings and revenues and offered robust guidance (read: Must-Watch ETF Areas Before Mid-Term Elections).
Let’s check out the earnings of some of the cyber security firms that have the largest allocation to the ETFs in this niche area of the technology sector:
Cyber Security Earnings in Focus
Akamai Technologies (AKAM – Free Report) reported third-quarter 2018 earnings per share of 68 cents and revenues of $670 million, outpacing the Zacks Consensus Estimate of 61 cents and $663 million, respectively. On year-over-year basis, earnings surged 51.6% while revenues were up 7%. For the fourth quarter, the company projects revenues in the range of $692-$709 million and earnings between 97 cents and