Welcome to our dedicated page for Akamai Technologies news (Ticker: AKAM), a resource for investors and traders seeking the latest updates and insights on Akamai Technologies stock.
Akamai Technologies, Inc. reports developments in cybersecurity, cloud computing, and content delivery for enterprises, public-sector customers, media operators, and digital businesses. The company describes its business through Security, Delivery and other cloud applications, and Cloud Infrastructure Services, including Akamai Cloud and edge-based infrastructure.
Recurring updates include quarterly financial results, API security capabilities such as Security Posture Center and code-to-runtime mapping, brand-impersonation protection through Akamai Brand Guardian, threat research from State of the Internet reports, and partner or contract activity involving compute, streaming analytics, application delivery, and public-sector procurement.
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Akamai Technologies and FS-ISAC have released a report highlighting a significant rise in DDoS attacks aimed at the financial sector. In 2022, there was a 22% increase in DDoS attacks against financial firms, with Europe seeing an alarming 73% surge. The report underscores that DDoS attacks are increasingly used as a political tool, particularly in the context of global conflicts like the Russia-Ukraine war. Important findings include the emergence of extortion tactics within DDoS campaigns and their potential to serve as a cover for more serious cyberattacks. The report emphasizes the need for financial institutions to update their cybersecurity strategies in light of these evolving threats.
Akamai Technologies (NASDAQ: AKAM) announced a conference call for investors on February 14, 2023, at 4:30 p.m. ET to discuss its fourth quarter and full-year 2022 financial results. The call will feature forward-looking financial guidance and will be streamed live on Akamai's Investor Relations page. Dial-in options include a U.S. number at (833) 634-5020 and international access at (412) 902-4238. A replay will be available for two weeks post-call.
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Akamai Technologies has been recognized in the 2022 Dow Jones Sustainability Indices and FTSE4Good Index, continuing its presence since 2013. The company improved its total scores by seven points over the prior year, especially in the Environmental Dimension (+15 points) and Climate Strategy (+10 points). This inclusion signifies strong environmental, social, and governance (ESG) practices, with Akamai committing to 100% renewable energy for global operations by 2030. The recognition highlights Akamai's dedication to sustainable business practices and its efforts in STEM education and community support.
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.