Akamai Technologies Inc Stock Price, News & Analysis

Akamai Technologies published its latest State of the Internet report, revealing that 80% of cyberattackers target customers of financial services, rather than financial institutions themselves. The report highlights a 257% increase in web application and API attacks year over year, alongside a 22% rise in DDoS attacks. Key findings indicate that new zero-day exploits against financial services see rapid exploitation, with phishing techniques evolving to bypass two-factor authentication. Regionally, attacks surged by 449% in Asia-Pacific and 419% in Latin America.

Akamai announced a strategic equity investment in Macrometa, enhancing their partnership with the integration of services to create a powerful edge cloud platform. This collaboration will allow enterprise developers to deploy applications seamlessly across edge and cloud infrastructures, leveraging Akamai's extensive network of 4,200 points of presence globally. Andy Champagne, CTO of Akamai Labs, will join Macrometa's board as a non-voting observer. This investment aims to simplify application development, promising faster time to market and improved operational efficiencies for developers.

Akamai Technologies reported its third-quarter financial results with revenue reaching $882 million, marking a 3% year-over-year increase and a 7% rise when adjusted for foreign exchange. Security and compute revenue comprised 55% of total revenue, growing 23% year-over-year. However, GAAP EPS fell 37% year-over-year to $0.68, indicative of broader macroeconomic challenges. While cash from operations was $369 million, the company’s net income saw a significant 40% decrease. Akamai also repurchased 1.8 million shares for $163 million.

Dynatrace (NYSE: DT) has appointed Jim Benson as Chief Financial Officer (CFO), effective November 15, 2022. Benson brings over 30 years of experience from leading technology companies, including Akamai Technologies, where he served as CFO from 2012 to 2019. He replaces Kevin Burns, who will assist during the transition period. CEO Rick McConnell expressed confidence in Benson's ability to lead the financial organization and drive growth. Dynatrace focuses on simplifying cloud complexity and enhancing digital transformation through its advanced observability platform.

Akamai Technologies (NASDAQ: AKAM) has announced a significant upgrade to its DDoS protection platform, Prolexic, enhancing its dedicated defense capacity by 100% to 20 Tbps. This upgrade focuses on combating increasingly sophisticated DDoS threats by deploying new software-defined scrubbing centers globally, improving both performance and reliability for online businesses. The rollout began in Q3 2022 and will continue into 2023 across North America, Europe, Asia, and the Middle East. Akamai's advancements aim to deliver unmatched security, ensuring optimal customer experience.

Techstrong Research conducted a study revealing a significant shift in cloud buyer preferences. Over 700 professionals indicated a growing importance on developer experience, equal to core technical performance. The report emphasizes three trends: the necessity for global reach and security in cloud platforms, the need for developer-centric environments to enable faster deployment, and the demand for distributed edge computing capabilities. These insights highlight the evolving landscape of cloud services where both performance and user experience are critical for success.

Akamai Technologies (NASDAQ: AKAM) partners with NESN, making it the first U.S. regional sports network to stream NHL and MLB games in native 4K/HDR. Fans can access 4K/HDR Bruins home games starting October 15, 2022, and Red Sox home games in April 2023 through the NESN 360 app. This collaboration utilizes Akamai's media delivery solutions, enhancing the viewing experience for sports enthusiasts across various devices. The partnership represents significant technological advancements in live sports streaming, allowing NESN to become a leader in delivering high-quality sports content.

Akamai Technologies (NASDAQ: AKAM) announced a conference call on November 8, 2022, at 4:30 p.m. ET, to discuss its third quarter 2022 financial results. The call may include forward-looking financial guidance. Investors can join the call via dial-in numbers, with replay options available for two weeks.

The company emphasizes its role in powering and protecting online experiences, providing solutions to enhance digital security and performance.

Akamai Technologies (NASDAQ: AKAM) has been recognized as a Leader in The Forrester Wave™: Web Application Firewalls, Q3 2022 report, which evaluated 12 vendors based on 24 criteria. Forrester highlighted Akamai for its advanced detection capabilities, powered by machine learning, and praised customer feedback regarding its App & API Protector dashboards. The report noted a significant 300% increase in web application attack attempts in early 2022, emphasizing the need for robust security solutions. Akamai's App & API Protector integrates several security technologies into a user-friendly platform.