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. (NASDAQ: AKAM), based in Cambridge, Mass., operates one of the world's largest and most recognized cloud platforms. The company’s core services include content delivery network (CDN), cloud security, and edge computing solutions. Akamai's extensive infrastructure includes over 325,000 servers distributed across more than 1,000 cities globally, ensuring that content is delivered with superior speed, security, and reliability.
One of Akamai's standout offerings is the Akamai Intelligent Platform™, which enables businesses to securely deliver high-performing user experiences on any device, anywhere. This platform is integral to the company's mission to remove technological complexities, allowing clients to focus on business acceleration and embracing modern trends like cloud, mobile, and media, while also mitigating the challenges posed by security threats.
Akamai's services are used extensively in e-commerce, media, and technological sectors. The company recently announced a partnership with Neural Magic to deploy high-powered AI software across its infrastructure, enhancing deep learning capabilities on cost-effective CPU-based servers. This partnership exemplifies Akamai’s commitment to cutting-edge innovation and enhancing its cloud computing and security offerings.
Adding to its diverse portfolio, Akamai has launched the Shield NS53 to protect DNS infrastructure against resource exhaustion attacks, complementing their existing DDoS protection and DNS solutions. Furthermore, Akamai's API Security product has achieved the latest PCI DSS compliance, highlighting its robust security measures for handling sensitive data.
Additionally, Akamai's acquisition of Noname Security is set to bolster its API protection capabilities, addressing the growing demand for API security solutions. The company has also demonstrated significant financial growth, with a notable increase in security and compute revenue, and continues to expand its market presence through strategic acquisitions and partnerships.
For the latest corporate updates, follow Akamai on social platforms like X (formerly Twitter) and LinkedIn, or visit their website at akamai.com.
Akamai (NASDAQ: AKAM) reported strong financial results for Q3 2020, with revenue reaching $793 million, a 12% year-over-year increase. The company saw notable growth in its Cloud Security Solutions segment, which posted $266 million in revenue, up 23% from last year. GAAP net income was $159 million, reflecting a 15% increase, while GAAP EPS rose to $0.95 per share. Cash from operations totaled $402 million, accounting for 51% of revenue, and the company repurchased $13 million in stock during the quarter.
Akamai Technologies has announced the acquisition of Asavie, enhancing its Security and Personalization Services (SPS). Asavie specializes in managing security for mobile and IoT devices, providing solutions crucial for businesses shifting to remote work due to COVID-19. The all-cash deal is not expected to materially impact Akamai's 2020 financial results. This strategic acquisition aims to help Akamai's carrier partners meet the growing demand for mobile device security. The integration is projected to strengthen Akamai's offerings as more devices connect over cellular and 5G networks.
Akamai has released its State of the Internet / Security report, highlighting significant criminal activity targeting retail, travel, and hospitality sectors between July 2018 and June 2020. Over 100 billion credential stuffing attacks occurred, with 90% aimed at retail. SQL Injection (SQLi) and Local File Inclusion (LFI) attacks also surged, comprising 41% of total web attacks. The pandemic created new vulnerabilities, prompting a rise in loyalty program exploitation. Akamai stresses the urgent need for improved identity controls to combat these threats.
Akamai Technologies, Inc. (NASDAQ: AKAM) will hold a conference call for investors on October 27, 2020, at 4:30 p.m. ET to discuss its third quarter financial results. This call may include forward-looking financial guidance from management and will be accessible via Akamai's Investor Relations page. The live dial-in numbers are U.S.: (844) 578-9671, International: (508) 637-5655, using Conference ID: 9551978. A replay will be available for two weeks following the call.
Akamai Technologies has appointed Parimal Pandya as the managing director for Asia Pacific and Japan, effective October 1, 2020. In this role, he will drive business growth and innovation across the region. Pandya, a long-time leader at Akamai, has previously led significant expansions in media, carrier sales, and strategic partnerships. His extensive background includes a Master's in electrical engineering from Columbia University and experience in both e-commerce and venture capital. Akamai aims to support digital transformation amidst unprecedented market disruption.
Akamai Technologies, Inc. (NASDAQ: AKAM) has been recognized as a Leader in The Forrester Wave™: Zero Trust eXtended Ecosystem Platform Providers for Q3 2020, receiving top scores in network security, workload security, and APIs. Forrester evaluated 15 vendors and highlighted Akamai's commitment to Zero Trust principles, emphasizing its robust DDoS protection, multi-factor authentication, and adaptable security solutions. The report notes the effectiveness of Akamai's platform in providing enterprise security, regardless of user location, alongside user-friendly tools to enhance security without sacrificing experience.
Akamai (NASDAQ: AKAM) released the State of the Internet/Security report, focusing on increasing cyber attacks aimed at video game companies and players, particularly during COVID-19. The report highlights over 100 billion credential stuffing attacks, with nearly 10 billion targeting gaming. It reveals that 55% of frequent gamers have experienced account compromises, yet only 20% are concerned. The report emphasizes the need for collaboration between gamers and developers to enhance security measures. For more insights, the full report and a webinar are available online.
Akamai and AT&T have renewed their partnership, extending their collaboration through 2023. This agreement allows AT&T's business customers global access to Akamai's cloud and network services, including security solutions such as Enterprise Application Access and Enterprise Threat Protector. The two companies have been working together since 2012, with AT&T now recognized as the largest global provider of Akamai's security offerings. The partnership aims to enhance the security and performance of customers' digital businesses across various industries.
FAQ
What is the current stock price of Akamai Technologies (AKAM)?
What is the market cap of Akamai Technologies (AKAM)?
What does Akamai Technologies Inc. do?
What is the Akamai Intelligent Platform™?
How many servers does Akamai operate worldwide?
What recent partnership has Akamai announced?
What security solutions does Akamai offer?
What is the significance of Akamai’s acquisition of Noname Security?
How has Akamai's financial performance been in recent quarters?
How does Akamai support live-streaming services?
Where can I find more information about Akamai’s cloud computing solutions?
What are some key achievements of Akamai in recent times?
