Good day, ladies and gentlemen. Welcome to the Q2 2015 Akamai Technologies Inc. earnings conference call. My name is Steven, and I will be your operator for today. At this time all participants are in a listen-only mode. We will conduct a question-and-answer session towards the end of this conference. As a reminder, this call is being recorded for replay purposes. I would now like to turn the call over to Mr. Tom Barth, Head of Investor Relations. Please proceed.

Thank you, Steven, and good afternoon, and thank you for joining Akamai's second quarter 2015 earnings conference call. Speaking today will be Tom Leighton, Akamai's Chief Executive Officer, and Jim Benson, Akamai's Chief Financial Officer. Before we get started, please note that today's comments include forward-looking statements, including statements regarding revenue and earnings guidance. These forward-looking statements are subject to risk and uncertainties and involve a number of factors that could cause actual results to differ materially from those expressed or implied by such statements. Additional information concerning these factors is contained in Akamai's filings with the SEC, including our Annual Report on Form 10-K and quarterly reports on Form 10-Q. The forward-looking statements included in this call represents the company's view on July 28, 2015. Akamai disclaims any obligation to update these statements to reflect future events or circumstances. As a reminder, we'll be referring to some non-GAAP financial metrics during today's call. A detailed reconciliation of GAAP and non-GAAP metrics can be found under the financial portion of the Investor Relations section of our website. With that, let me turn the call over to Tom. Frank Thomson Leighton - Chief Executive Officer & Director: Thanks, Tom, and thank you for joining us today. Akamai delivered a solid second quarter, with strong revenue growth across all of our geographies and in all of our solution categories, with particularly strong growth coming from our cloud security offerings. Revenue in the second quarter was $541 million, up 14% year over year and up 18% when adjusted for foreign exchange headwinds. Non-GAAP EPS for the second quarter was $0.57 per diluted share, down 2% year over year but up 3% when adjusted for foreign exchange headwinds. I'll be back in a few minutes to talk more about the progress that we made…

Stand by for your first question, which comes from the line of Gray Powell from Wells Fargo. Please go ahead.

Hi, thanks for putting me up early in the lineup. I appreciate it. So maybe to start, what is your view on the rate and pace of over-the-top offerings? Do you see a point in time over the next six to 12 months when it has more of a direct or potentially accelerated impact on your business? Frank Thomson Leighton - Chief Executive Officer & Director: It's really hard to predict the rate of adoption and when new OTT services will become available. But we are in conversations with the country's leading broadcasters, in fact, several global broadcasters and major Internet companies, and there's a lot of buzz out there and a lot of interest in bringing major video content online over-the-top. And that's already starting to have an impact on our financials in the sense that we're buying more CapEx and you see us be a little bit above our long-term plan in CapEx this year. And as we put that CapEx into co-lo and get it connected with bandwidth, there's some cost there. And we want to be in the position of being prepared. There is the possibility that it could have a significant impact on our financials next year. We are taking risk in doing this because there's always a chance that the offerings will be delayed or there won't be as much uptake among the users and subscribers as people are hoping for, but we're willing to take that risk. The downside there is that if we just deploy the CapEx a little early we'll be using it within a year anyway, but we really want to be ready if OTT takes off as a lot of people think it might.

Got it, and then just one more on the cost side, if I may. So I understand that the EBITDA margin target remains in the 40% to 41% range. Can you help us think through the components there? I think that your new sales reps, that continues to grow at the same pace that you've seen over the last couple of years. Productivity should scale. I would assume the Prolexic margin should be improving. Can you just help us think through some of these incremental investments in the line items to keep margins at current levels? Thanks. James Benson - Chief Financial Officer & Executive Vice President: I'll take that. So as you can imagine, with the network CapEx build-outs that Tom referenced, that's going to pressure margins in the near term, in particular gross margins, but obviously that affects EBITDA as well. We think it's the right business decision, so you can expect that – last year I think we ended at 79% gross margin in Q4. Obviously we were at 77% in Q2. We will probably be in the 77% to 78% range for the foreseeable future. But we still plan to manage the company at the 40% to 41% level, which tells you we are going to continue to make investments in the business, across the business. We're going to continue to make investments in all the areas that we have been talking about. We'll continue to make investments in R&D. We'll continue to make investments in platform capacity. We'll continue to make investments in go-to-market. But we'll obviously be mindful of those investments and managing these investments within the context of the fact that we're doing pretty substantial build-outs now on the network side. So we are certainly mindful of that, but you can expect that we'll continue to make investments. And as I mentioned, for the foreseeable future, we expect to be in the 40% to 41% EBITDA range, but that does depend upon the things that I mentioned. It depends upon what happens with revenue volumes. It depends upon if there's an M&A that we think is opportunistic and the right decision for the company that that may be altered. But we're telling you what we see right now. And if we execute the plan that we currently have, I think that we can operate in those levels.

Understood, okay. Thank you very much.

And your next question comes from the line of Sterling Auty from JPMorgan. Please go ahead.

Thanks, guys, one question and one follow-up. First on the OTT opportunity, I wasn't quite clear. Is this an expectation of closing incremental new customers to drive that growth or is it that you expect your existing customers to drive additional volume, or is it a combination? Frank Thomson Leighton - Chief Executive Officer & Director: I think the majority of it would be a substantial increase from existing customers. Today we already service pretty much all the major broadcasters. And as they bring content over-the-top, that would be traffic that would make sense to put on the Akamai platform. And in some cases, you have the big Internet companies out there maybe offering bundles and packages, and pretty much they are already Akamai customers. It would be a new service for them potentially, but most of the major media brands already use Akamai. So I think less of new customers, more of new service and substantially increased traffic from our existing customer base.

Okay, and then the one follow-up. If I heard you correctly in your prepared remarks, it sounds like the guidance here on revenue for the September quarter incorporates not only the tough compare but maybe some moving around of timing of major software releases, et cetera. Can you help clarify in terms of – while you're not guiding for December, how should we think about the seasonal sequential growth in the back half of this year versus what you've seen in previous years? James Benson - Chief Financial Officer & Executive Vice President: I'll take that. I'm certainly not going to guide for Q4. But to give you little more color on Q3, as you mentioned, and you've followed the company for a while, we had a very, very strong media quarter last Q3. The media business last Q3 grew 7% from Q2 to Q3. It's never grown at those rates. Admittedly, we've told you that traffic volumes vary from quarter to quarter. Sometimes you get big gaming releases. Sometimes you get big software updates. Sometimes there's an introduction of new capabilities on social media platforms. And so that really affects traffic volumes. And so certainly for Q3, we're not expecting those same level of volumes that we saw last year. It's probably less the timing of a big software release because I don't think that it's necessarily just the timing of the releases; it's also the size of those releases. And so there's a bunch of factors that we've outlined in our Q3 guidance. I really would hesitate to give you Q4 guidance because a lot of things can happen in Q4 because of the holiday season. It's seasonally our biggest quarter, and we usually provide fairly wide ranges of revenue guidance in that quarter because it can be heavily influenced by holiday seasonality. But for the third quarter, you can expect the media business is certainly going to moderate because we expect traffic volumes. And to be clear, because someone is probably going to ask me this question, well is it related to some big renewal of a large customer? It's not driven by renewals of large customers. This is just driven by an expectation that traffic volumes are going to be more seasonally light, which is what we tend to see in Q3, and we haven't seen that in the last couple sequential quarters for Q2 to Q3.

Okay, thank you.

And your next question is from the line of Steve Milunovich from UBS. Please go ahead.

Thank you. Could you go a bit deeper into the year-over-year decline in gross margin? How much of that comes from incremental depreciation associated with CapEx? Are there other factors? What are you seeing in pricing and so forth? James Benson - Chief Financial Officer & Executive Vice President: Yes, so year-over-year GAAP gross margins were down two points. Cash gross margins were down I think about a point. Certainly a point of that is depreciation. And as we mentioned, we've been doing some pretty substantive build-out of the network, so you can account for half of that. And as you can imagine, we've been doing very large build-out in the first half. And so as you deploy CapEx onto the network, you end up having a fair amount of incremental cost to actually get that CapEx deployed on the network. There are network build-out costs. There are resources that need to go provide installation of our CapEx into the various networks, and so we did see an uptick in that. And that's what lowered gross margins down a point on a cash basis, down two points on a GAAP basis. As you saw for the guide for Q3, we think we're probably going to hover around those levels. They're not going to worsen. If anything, they're going to be flat to up a point is what I guided. So that's where I see things in the near term, that we're probably going operate in the 77% to 78% cash margin range and probably in the 67% range for GAAP gross margins for the next few quarters.

Regarding timing of software releases and so forth, I know you probably don't want to comment too specifically. But there's talk that the Windows 10 launch could "break the Internet," and one assumes that you're among those CDNs being involved in that. Is that taken into account in your third quarter guidance? James Benson - Chief Financial Officer & Executive Vice President: I'm not going to specifically comment on the Windows 10 release or any particular customer, but you can expect that we have a very close relationship with all of our large software download customers, and we have factored into our guidance an expectation from all of them. As you can imagine, with any release, the rate and pace of adoption of those releases varies. So it's not just the timing as far as when the release is provided, but it's the adoption of that release from the customers. And just to comment on Windows in particular, I think that's anyone's guess relative to – I would say enterprises are probably going to be much slower to introduce a Windows 10 release. I would say consumers, it's really a wildcard. But you can expect that we've included in our guidance an expectation of all software updates accordingly.

Thanks.

And your next question is from the line of Will Power from Robert Baird. Please go ahead. William V. Power - Robert W. Baird & Co., Inc. (Broker): Good afternoon, thanks. I guess two questions, if I may. I guess first, just maybe coming back to the media business, I wonder if you could just address what you're seeing from a competitive standpoint, both pricing and any potential lost share as you think about the traffic trends. I'll start with that. Frank Thomson Leighton - Chief Executive Officer & Director: I think it's like it's always been. We've got a lot of competitors. The very biggest media companies will have a do-it-yourself effort in-house. Pricing is always important, very competitive there. The only I'd say major change has been over the last few years we've developed much closer and better relationships with many of the world's leading carriers, some of whom had large competitive or do-it-yourself efforts in the past and now have abandoned those efforts and decided to partner with Akamai. So that's been one, I think, change over the last few years, and that's been a favorable change. Akamai tends to have very strong share, and I think that's because of our quality, our scale, reliability, and affordability. William V. Power - Robert W. Baird & Co., Inc. (Broker): Okay. And then, Tom, you had alluded to in your prepared remarks some new Internet security offerings you're working on that I think you thought you might introduce sometime in 2016. I wonder if you could help frame for us either, A), how big those might be for you in 2016 and beyond, and just how you think about the size of those markets that you're going to start addressing beyond what you're perhaps addressing today? Frank Thomson Leighton…

Your next question is from the line of Mike Olson from Piper Jaffray. Please go ahead. Michael J. Olson - Piper Jaffray & Co (Broker): Good afternoon. As far as international, are there any particular areas that you're focused on building out your sales head count, or would it be just the most obvious markets that would follow the U.S., like Western Europe? And I guess is there any risk that you're at all late to the game in any of those markets? In other words, are there incumbent competitors that have begun to dominate some of those international markets that will create a hurdle for growth? Thanks. James Benson - Chief Financial Officer & Executive Vice President: We've been making, our sales force investments have been pretty much in all of our markets. I would say that we're already in a lot of call it the mature markets in Europe and the mature markets in Asia, so we're just fortifying our investments in those markets. But I wouldn't characterize it as I think that there's someone incumbent that's already been there and the opportunity is lessened. We certainly have competitors in every region. In some regions there are local regional competitors, but we wouldn't be making the investments outside of the U.S. like we have if we didn't think the market was there. We think that we're significantly underpenetrated in those markets, and we think there's significant room for growth there. Michael J. Olson - Piper Jaffray & Co (Broker): All right, thanks a lot.

Your next question comes from the line of Tim Horan from Oppenheimer. Please go ahead. Timothy K. Horan - Oppenheimer & Co., Inc. (Broker): Thanks, Tom. Sorry to harp on this, but I think you said pricing is very competitive, and our research indicates that a lot of your competitors seem to be – you've had a few new competitors lately, and they seem to be putting a lot more investment into CDN. Has pricing gotten a little bit worse, do you think, or is it stable? I know in the past you said it's relatively stable. And then also, Tom, can you just talk a little bit about your multicast video capabilities with Octoshape and maybe how that works, how unique is it, and what the demand looks like for it? Thanks. Frank Thomson Leighton - Chief Executive Officer & Director: I would say that the competitive environment is pretty steady, which means with media in particular and CDN, pricing steadily drops per bit delivered or per byte delivered. And it's always been that way and I expect it always will. And in fact, we're working hard in development, and this leads into the Octoshape acquisition and their multicast and their client assisted delivery capabilities in bringing technologies to market that have an even lower cost basis in addition to having much higher quality at the same time. So I would say that pricing is – the decline in pricing is pretty stable. The level of competition is pretty stable. Traffic rises at a pretty fast clip, and pricing drops at a pretty steady clip. And then you take the product of those, and that's been leading to our revenue growth in media, which can have small fluctuations up or down in any given quarter, but generally has been…

Your next question comes from the line of Michael Turits from Raymond James. Please go ahead. Michael Turits - Raymond James & Associates, Inc.: Hey, guys. Jim, the EBITDA margin if I did the math right still comes out even slightly below if you go out a decimal place to 40% to 41%. It sounds like that you have some caution on the EBITDA range going forward. So, A), in general, are you more cautious than you were on the EBITDA margin the next couple of quarters? And is there any impact from the two acquisitions that we should be backing out here? James Benson - Chief Financial Officer & Executive Vice President: Certainly, I mentioned that we did absorb the acquisitions in Q2, and so we have a full quarter impact in Q2. But in general for EBITDA, I would say my caution or my statements were more driven by making sure people have a consideration for what obviously is going to affect EBITDA; that we're making in particular some pretty significant investments in the network build-out which we believe are the right business decisions of the company. And while I believe we can operate the company in the 40% to 41% range, I also want to be mindful of the fact that we're not going to not make the appropriate investments in the business that we believe are the right business decisions for the company in the medium term and the long term. There are a bunch of things that can affect that, as you know. The media business in particular can have variability. And so if traffic volumes downtick a little bit, we're going to be at the lower end of that range. And I just want to make sure that I'm signaling that we intend to…

Your next question comes from the line of James Breen from William Blair. Please go ahead. James D. Breen - William Blair & Co. LLC: Thanks for taking the question, just a couple. One, from a regulatory standpoint, given some of the interconnect deals that have happened in the space, does that impact your traffic at all over the next couple quarters? And then with respect to over-the-top video, you guys have talked about having a long-term business model growing the high teens, 17% – 18% top line over the next five years. Is it safe to assume that the investments you're making in OTT would be something that could push those growth rates higher than that range? Thanks. James Benson - Chief Financial Officer & Executive Vice President: I'll take that. I don't think the regulatory environment has anything to do with an expectation of our traffic growth rates whatsoever, so I'm not quite sure what you're referring to there. But I would say that we have certainly talked about a long-term model for the company is that we believe that we have an ambition to hit $5 billion by 2020. And if you do the math on that, it means you need to grow the company around 17% on a compound annual growth rate. And we have a pretty broad portfolio between media, web performance, security, and some of the new emerging areas with the carrier and also in cloud networking. We might not necessarily get the pieces right, but each of those areas are growing significantly that we believe the combination of them is more than enough from a market opportunity perspective to grow the company at 17%. If you look through the first several years of the decade, we've been able to do that. And our…

Your next question comes from the line of Mark Kelleher from D.A. Davidson. Please go ahead. Mark D. Kelleher - D. A. Davidson & Co.: Thanks for taking the question. I just wanted to ask about Cisco. How is that partnership progressing, and in general, just your efforts to move into the enterprise and through the firewalls? How is that progressing? Frank Thomson Leighton - Chief Executive Officer & Director: The partnership is strong with Cisco. As you know, we launched, or they launched Akamai Connect, which is software, Akamai software that's on their new branch office router, and there is customer adoption there in their sales. The product works very well. I would say it's been a slow-ish start there. We'd like to see stronger adoption, and Cisco is actively working towards that. Mark D. Kelleher - D. A. Davidson & Co.: Okay, thanks.

Your next question is from the line of Keith Weiss from Morgan Stanley. These go ahead. Sanjit K. Singh - Morgan Stanley & Co. LLC: Hi, this is Sanjit Singh for Keith Weiss. Tom, last quarter I think you mentioned in prior investment waves that there was a one to two-quarter lag in terms of revenue after the build-out. So heading into this particular with OTT, heading into this particular wave, is there more uncertainty about timing then you had versus past cycles? Frank Thomson Leighton - Chief Executive Officer & Director: With OTT, I would say there's a fair amount of uncertainty. Usually the build-out is at least a couple quarters ahead, and then you have to see – or the service is launched to the subscribers by the service, and it takes time for that, so it can extend beyond a couple quarters. At this point, we are engaged in purchasing CapEx and doing build-out for 2016. And it's hard to know exactly if and when the services get launched and the adoption takes place that drives the traffic. There is a lot of buzz out there. There is excitement. I think a lot of folks in the industry think that this is going to start happening more, but it's hard to say exactly when. And that's certainly outside of our control, but we want to be ready to support our customers as they make those decisions and as they do get adoption. Sanjit K. Singh - Morgan Stanley & Co. LLC: I appreciate that. And then just to follow up on back to the media business, you guys have been very clear, at least in the first half of this year, about some of the tough year-over-year comparisons as it relates to renewals, as it relates to…

And your next question comes from the line of Vijay Bhagavath from Deutsche Bank. Please go ahead.

Thanks, guys. Hi, Tom, Jim, two questions. The first is around your opportunity in the enterprise. And where I'm coming from is we do have reasonable color from you on the TV over-the-top and the security opportunities. But we lack insights on how would Akamai view the enterprise as a longer-term growth opportunity, first part of the question. Frank Thomson Leighton - Chief Executive Officer & Director: I think as a longer-term growth opportunity, it is very large for us. That's why we've been placing significant investments to develop products there. They're focused in two particular areas. The first is for enterprise networking to enable an enterprise to have greatly increased and improved connectivity into the branch offices, both using its WAN and also using the Internet, and also to be able to do that at a lower price point. Many enterprises today need 10X the capacity they've got into their branch office, maybe even more as enterprise employees need to access video, to access the web directly without having to go back through the WAN into the central data center. And as they increasingly rely on the Internet, they need it to perform really well to do their jobs effectively. And enterprise networking is very expensive, and this is an area where I think we can really help. And our first offer there is Akamai Connect. Actually it's offered by Cisco. And we are working on additional offers that we hope to bring to market next year to further improve the capability of enterprise networks to be faster, more reliable, more scalable, and more cost effective. The other area which we talked about a little bit before on the call is with enterprise security, and here there are two factors. One is the enterprise is a huge target today,…

Thanks, that's very helpful. And then a quick second part of the question is on security. Give us a snapshot on the hiring plans. We did hear from our own channel checks, the company looking to staff up security overlay sales specialists who talk the security vernacular. So how is it going in terms of security sales hires and investing behind demand on that? Thanks. Frank Thomson Leighton - Chief Executive Officer & Director: It's been going well. We do have an overlay force, and we also train our existing sales force in security. And our goal is that every rep, whether you're a specialist or not, should be able to sell security. We're not there at 100% yet, but we have had good traction with security sales. And as you can see, being up 44% year over year off a number that included all of Prolexic was something that we were very happy with. And now going from near nothing a few years ago to over a $200 million trailing run rate, again, we're very happy with that. And that's a reflection on the success that the sales force has had in learning how to sell security. It takes a lot of effort, and not everybody has done it, but as a company we've had real success there, and that's great to see.

Thanks, Tom. That's been very helpful.

And your next question comes from Heather Bellini from Goldman Sachs. Please go ahead. Heather A. Bellini - Goldman Sachs & Co.: Hi, thank you. I was wondering if we could talk a little bit about the growth in the indirect channel. I think you had – over a two-year period you signed up about nine partners, if we go back to the slide deck from your Analyst Day in February. And I think if I recall you had 49% growth in that segment in the year-ago period, and you guys mentioned that that helped drive a lot of media revenue. I'm just wondering how much of a tough comp is that creating for this year? James Benson - Chief Financial Officer & Executive Vice President: I'll take that. It does obviously create a tough comp. The channel business is actually growing faster than our direct business, and it grew faster than our direct business this quarter as well. Heather A. Bellini - Goldman Sachs & Co.: But is that growth rate decelerating materially? James Benson - Chief Financial Officer & Executive Vice President: It's decelerating, but it's decelerating from I think a very, very high base. We signed up – all the partners that you mentioned, in particular the carrier partners, they're still our fastest growing channel. As I mentioned last year, one of the drivers of our growth rates last year in the channel was that in order to get some of these channel partners and carriers in particular, we ceded some of our direct customers to them. And so some of the growth rate that you saw last year was ceding them direct customers that they were actually able to grow even faster than we were able to grow on our own by expanding further offerings into…

And your next question comes from the line of Colby Synesael from Cowen. Please go ahead. Colby A. Synesael - Cowen & Co. LLC: Great. Most of my questions were already asked, so I'll just try to be a little bit more pointed in mine. So the DSA product, that's the one area where if I look back to last year, you've probably more consistently missed our numbers, and that's where the miss was at least in our numbers for this quarter. I know that the question was asked about that, and you mentioned that you'd like to see it growing faster, but I was just wondering. What are you doing to actually grow that faster? Is the issue with the product set? You mentioned mobile. Is it not necessarily improving mobile speeds enough that people are wanting to buy it? Is it a sales execution issue? And when can we actually expect to see some improvement in that business? And then my other question, if I go back to OTT, which I know has been talked a lot about, when I think about last quarter, you talked about increasing the CapEx spend with the expectation that that could drive OTT acceleration in the back half of 2015. Clearly, the press release and what you said on the call today indicates that you're now expecting that in 2016. Was that one or two particular OTT launches that you had anticipated to happen that just aren't happening, or has there been something else that's changed in your view of the outlook for OTT? Thanks. Frank Thomson Leighton - Chief Executive Officer & Director: Okay, I'll take those. First, with DSA, DSA is a very successful product, and it has been growing substantially. Now what we're focusing on with DSA and with…

Your next question comes from the line of Kevin Smithen from Macquarie. Please go ahead. Kevin Smithen - Macquarie Capital (USA), Inc.: Thanks. I wanted to follow up on Colby's question on the DSA. You mentioned better retraining of the sales force and improved execution on security. Do you get the sense there's any cannibalization going on at the sales force level perhaps now that they find it easier to sell your security products and less attention is going to DSA? And I guess the second question on that, when would you expect a product refresh on the DSA business? Frank Thomson Leighton - Chief Executive Officer & Director: Okay. So I think there is some. It's not cannibalization per se. but as you see such great traction with security and it's the newer thing that yes, it does take more of our reps' interest. We've got a lot of focus on training there. And so I think it is possible that that's – you see such great growth there, and actually it's pretty respectable growth. We'd just like to see it better with the performance products and DSA. And in terms of the product refresh, we launched Ion Standard and Ion Premier at the end of last year. We've had strong adoption there. Ion Standard is all about ease of use, rapid adoption, self-integration, and then a situational awareness so it works in any environment, with websites, whether you're accessing it with a mobile device or off a desktop. And with Ion Premium, really focused on really fast performance; everything you can do to make the website be faster, front-end optimization, adaptive image compression, so a focus on the ultimate in speed. And as I mentioned before, there's a lot of focus now in development around other things we…

And your next question comes from the line of Ed Maguire from CLSA. Please go ahead.

Hi, good afternoon. I was wondering if you could just provide a bit of color on how your partnerships with carriers are tracking. I know you had mentioned a couple of recent wins. Frank Thomson Leighton - Chief Executive Officer & Director: I would say we're very happy with the relationships that we have and are establishing with the world's major carriers. We talked before about the competitive situation, and I think that's one area that there has been substantial change. You go back four or five years ago, and many of the world's leading carriers were either directly competing with us or they had a do-it-yourself effort that they were using as some kind of CDN. And many of them have now changed. The internal effort maybe didn't work out as well as they hoped, the competitive efforts weren't as successful as they had hoped, and they decided to partner with Akamai instead. And we've been very pleased to see the progress with those relationships as that's happened. I can think of one large domestic carrier that used to be very competitive with us and is now one of our largest resellers and a very happy partner with Akamai. And that's really critical I think as we go to the future because a lot of the people connect through the major carriers. A lot of the enterprise do their business through the major carriers, and it's great for us to have such a strong relationship with the world's major carriers.

Great. And just to follow up, in terms of investment for the rest of the year, I know you've committed to a lot of CapEx. But what are your thoughts on continued hiring plans for sales force expansion as we look in the next couple of quarters? James Benson - Chief Financial Officer & Executive Vice President: I would say that we are continuing to make investments across the business, so it's not just sales. As you know, we've made very, very significant investments in the sales force over the last several years. And so you can expect that probably the rate of sales adds is going to moderate here, but you can expect that across the business we're going to continue to make investments in the business.

Great, thank you.

I would now like to turn the call over to Tom Barth for closing remarks.

Thank you, Steven. In closing, we will be participating in a number of investor conferences and events in August and September. Details of these can be found on the Investor Relations section of akamai.com. We want to thank all of you for joining us, and we wish you all a very nice evening. Thank you.

Thank you for your participation in today's conference. This concludes the presentation. You may now disconnect. Thank you very much and have a very good day.