Akamai Technologies Inc - AKAM STOCK NEWS

Akamai Technologies (NASDAQ: AKAM) announced that Avesha Technologies has joined the Akamai Qualified Compute Partner Program as an Independent Software Vendor. Avesha is providing two Kubernetes solutions: KubeSlice for multi-cloud connectivity and Smart Scaler for autoscaling. The solutions enable seamless cloud migration, optimize resource allocation, and provide cost management through KubeTally. G&L Systemhaus, a German systems integrator, highlighted the benefits of using KubeSlice for connecting microservices across different environments. The partnership aims to provide secure and high-performance Kubernetes solutions scalable across Akamai Connected Cloud.

Akamai Technologies released its third annual API Security Impact Study, revealing concerning trends in API security. 84% of respondents experienced API security incidents in the past year, up from 78% in 2023. The study, surveying 1,207 security leaders across the US, UK, and Germany, found that only 27% of participants have a full API inventory and know which APIs exchange sensitive data, down from 40% in 2023.

The average cost to remediate API incidents was $591,404 in the US, rising to $832,801 in financial services. Energy/utilities reported the highest incident rate (91%), while retail/ecommerce had the lowest (68%). CISOs ranked addressing generative AI threats (25.5%) and securing APIs (24.8%) as top priorities.

Akamai Technologies (NASDAQ: AKAM) has launched the Akamai App Platform, a cloud-agnostic solution built on Kubernetes technology from their recently acquired Otomi. The platform offers ready-to-run templates that simplify deployment, management, and scaling of Kubernetes clusters, reducing deployment time from months to under an hour. The solution provides essential capabilities including customizable templates, a self-service environment, and a framework integrating preconfigured open source projects. Key features include simplified operational complexity, standardized deployments, true workload portability, and integrated security and observability features.

Akamai Technologies (NASDAQ: AKAM) reported Q3 2024 revenue of $1.005 billion, up 4% year-over-year, marking its first billion-dollar quarter. Security revenue grew 14% to $519 million, while Compute revenue increased 28% to $167 million. However, Delivery revenue declined 16% to $319 million. The company recorded a $82 million restructuring charge related to workforce reduction, resulting in GAAP net income of $58 million (down 64%) and EPS of $0.38 (down 63%). Security and compute solutions now represent 68% of total revenue, growing 17% year-over-year. The company maintains strong cash position with $1.979 billion in cash and equivalents.

Akamai Technologies (NASDAQ: AKAM) has enhanced its Account Protector security solution with new real-time capabilities designed to protect user accounts throughout their entire lifecycle. The upgraded solution now offers comprehensive protection against account opening abuse, takeover attacks, and fraudulent activities from account creation through post-login activities.

The enhanced features include lifecycle protection, flexible risk management, and advanced API operations for critical activities such as account updates, password changes, and payments. The system continuously monitors user behavior, analyzes risk signals, and initiates automated responses to balance security with user experience.

Akamai Technologies Inc. (NASDAQ: AKAM) announced that APIContext has joined the Akamai Qualified Compute Partner Program as an Independent Software Vendor (ISV). APIContext offers advanced API performance monitoring and compliance testing solutions, leveraging Akamai's global cloud platform to provide real-world, end-to-end monitoring.

APIContext has launched synthetic tests from 24 Akamai availability zones and utilizes various Akamai Linode services. This integration enables businesses to identify and address potential performance issues proactively. The partnership aims to bring proactive API performance monitoring to Akamai's customer base, ensuring high-performance, mission-critical APIs remain compliant, governable, and resilient across multiple regions.

The Akamai Qualified Compute Partner Program facilitates easy access to solution-based services interoperable with Akamai's cloud computing services for its customers.

Akamai Technologies (NASDAQ: AKAM) has announced the Behavioral DDoS Engine for its App & API Protector solution. This new capability uses machine learning for automatic, proactive protection against application-layer DDoS attacks. It offers advanced detection and mitigation by analyzing anomalies and correlating multidimensional traffic data.

The engine provides customized, hands-off protection tailored to specific traffic baselines and risk sensitivities, minimizing manual intervention. It leverages global DDoS intelligence from the Akamai platform for automatic updates and modernized defense.

Akamai is also introducing an AI Assistant embedded in its web security analytics, allowing users to quickly filter and query security insights via a chat-based interface. The release includes additional capabilities such as Rapid Rules for fast CVE and zero-day protection, and improvements to the Adaptive Security Engine.

Akamai Technologies (NASDAQ: AKAM) and Kyndryl (NYSE: KD) have announced a collaboration to offer Zero Trust Segmentation Services. Kyndryl teams worldwide are certified to provide implementation and managed services for Akamai Guardicore Segmentation under the Guardicore certified Service Provider (GcSP) program. This collaboration aims to help customers accelerate Zero Trust implementations and address evolving cybersecurity challenges.

The partnership combines Kyndryl's consulting expertise with Akamai's technology to offer a seamless solution for designing and achieving Zero Trust, segmentation, and network security objectives. The service helps increase cyber resiliency by limiting lateral movement of threats and securing organizational assets and data through robust authentication methods and real-time, risk-based access policies.

Akamai Technologies (NASDAQ: AKAM), the cloud company that powers and protects life online, has announced it will hold an investor conference call on Thursday, November 7, 2024, at 4:30 p.m. ET. The call will cover the company's third quarter 2024 financial results and may include forward-looking financial guidance from management. This event provides an opportunity for investors to gain insights into Akamai's recent performance and future outlook.