-- 瑞銀證券週五在一份報告中指出，Akamai Technologies (AKAM) 新簽的價值 18 億美元的計算服務客戶合約有望加速公司營收成長，儘管該券商對這筆交易對利潤率和盈利能力的影響持懷疑態度。 根據 FactSet 的電話會議記錄顯示，Akamai 執行長 Tom Leighton 在周四的財報電話會議上表示，這份與一家未具名的「領先的前沿模式公司」簽訂的七年期合同，是這家雲端服務提供商歷史上最大的客戶交易。 Akamai 財務長 Ed McGowan 告訴分析師，該公司預計將在第四季度開始確認合約項下的收入，金額在 2,000 萬美元至 2,500 萬美元之間。未來 12 個月，公司將投入 8 億美元至 8.25 億美元的資本支出以支持這項新交易。 彭博新聞引述知情人士的話稱，該客戶為 Anthropic 公司。 Akamai股價週五收盤飆漲約27%，今年迄今已累計上漲近70%。 瑞銀分析師羅傑·博伊德在報告中寫道：“儘管我們讚賞大型交易的強勁勢頭和營收增長加速，但我們對相應的淨利潤增長信心不足。” Akamai週四晚間將全年營收預期下限從44億美元上調至44.45億美元，上限維持在45.5億美元不變。該公司將雲端基礎設施服務預期上調至固定匯率計算至少年增50%。 FactSet調查的分析師預計其合併營收為44.9億美元。 Akamai將全年調整後營業利益率預期從先前的26%至28%下調至26%。瑞銀認為，這是由於前期規模擴張成本和利潤率較低的新大型交易所致。 博伊德表示，公司願意接受利潤率低於其中期30%目標的雲端基礎設施服務交易。同時，他指出，額外的資本支出將使公司2026年的自由現金流接近損益平衡點或轉為負值。 該券商將Akamai股票的目標價從110美元上調至160美元，並重申了其中性評級。 該公司週四晚間表示，其第一季調整後每股收益從去年同期的1.70美元降至1.61美元，而營收成長6%至10.7億美元。這些數據基本上符合FactSet的普遍預期。 博伊德表示：“投資者對雲端基礎設施領域的熱情可能會抵消（短期內）對利潤率的擔憂。”
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