Akamai Technologies Inc - AKAM STOCK NEWS

Akamai Technologies reported strong second-quarter results for 2021, with revenues reaching $853 million, a 7% increase year-over-year. The Security Technology Group saw a 25% growth in revenue, totaling $325 million, while the Edge Technology Group's revenue decreased by 1% to $528 million. GAAP net income was $156 million, reflecting a 3% decline from the previous year. Non-GAAP EPS increased by 3% to $1.42. Cash from operations was $378 million, equating to 44% of revenue, with significant share buybacks totaling $96 million.

Akamai Technologies (NASDAQ: AKAM) will hold an investor conference call on August 3, 2021, at 4:30 p.m. ET to discuss its second quarter 2021 financial results. The call is available via live dial-in for U.S. (844-578-9671) and international participants (508-637-5655) using Conference ID 3968976. A replay will be accessible for two weeks post-call. Future financial results are scheduled for November 2, 2021 and February 15, 2022.

Akamai Technologies (NASDAQ: AKAM) reported a significant increase in cyberattacks targeting the video game industry during the COVID-19 pandemic. Their State of the Internet / Security report revealed over 240 million web application attacks in 2020, a 340% increase from 2019. Credential stuffing attacks reached nearly 11 billion, up 224% from the previous year. SQL injection was the most common attack vector, making up 59% of incidents. The report highlights ongoing security challenges, stressing the importance of robust password management and multi-factor authentication for gamers.

Akamai Technologies (NASDAQ: AKAM) announced significant security enhancements to its platform on June 16, 2021. These upgrades focus on protecting web applications, APIs, and user accounts using advanced machine learning to automate threat detection. Key features include the Adaptive Security Engine for dynamic protection adjustments, Audience Hijacking Protection against client-side attacks, and a new Akamai Account Protector to block fraudulent human activity. Forrester's report anticipates a continued rise in identity theft and account takeovers, highlighting the importance of these security measures.

Akamai Technologies (NASDAQ: AKAM) announced the launch of its new Account Protector solution aimed at preventing account takeover attacks by human threat actors. Utilizing behavioral analytics and reputation heuristics, the solution assesses user risk in real time without compromising legitimate user experience. Integrated into Akamai's Intelligent Edge Platform, it analyzes user behavior and provides risk scores to enhance security decision-making. The launch addresses increasing threats to digital assets and is aligned with Akamai's strategy to enhance edge security.

Akamai (NASDAQ: AKAM) announced significant enhancements to its EdgeWorkers serverless edge compute solution, aimed at improving digital experiences. These include increased flexibility for developers with new resource tiers offering free usage for 60 million EdgeWorkers events monthly. EdgeKV facilitates high-availability data access at the edge, previously used for geolocation compliance. Furthermore, API Acceleration optimizes performance for API traffic, reflecting a 53% increase in API requests delivered in 2020. These innovations are set to boost application development and user experience at the edge.

Akamai Technologies, Inc. (NASDAQ: AKAM) has appointed Dr. Boaz Gelbord as senior vice president and chief security officer, effective June 14, 2021. He will lead Akamai's information security organization, overseeing cybersecurity, compliance, and safeguarding of systems and data across its global intelligent edge platform. Gelbord brings over 15 years of experience from previous roles at Dun & Bradstreet, Bloomberg LP, and Amplify Education. CEO Tom Leighton highlighted Gelbord's expertise in enhancing Akamai's internet protection capabilities during a time of heightened cybersecurity threats.

Akamai Technologies, Inc. released its State of the Internet/Security report, highlighting a significant rise in cyber threats to financial services in 2020. Credential stuffing attacks surged to 193 billion globally, with 3.4 billion targeting financial organizations, marking a 45% year-over-year increase. Web application attacks reached nearly 6.3 billion, with financial services seeing a 62% rise. The report also analyzed phishing kits, revealing the Kr3pto kit targeted 11 UK banks, while Ex-Robotos focused on corporate phishing. The findings emphasize the growing risk of cyber threats in the financial sector.

Akamai (NASDAQ: AKAM) reported robust Q1 2021 financial results with revenue of $843 million, marking a 10% year-over-year increase. Strong growth was seen in the Security Technology Group with revenue at $310 million, up 29%. The Edge Technology Group generated $532 million, a 2% increase. GAAP net income rose 26% to $156 million, with GAAP EPS at $0.94. Adjusted EBITDA reached $375 million, up 15%, highlighting a healthy operational margin.

Cash from operations was $250 million, representing 30% of revenue.