Akamai Technologies Inc Stock Price, News & Analysis

Akamai Technologies reported second quarter revenue of $903 million, marking a 6% year-over-year increase, and a 9% rise when adjusted for foreign exchange. Security and compute revenue grew 26% year-over-year, representing 54% of total revenue. GAAP EPS was $0.74, down 21% year-over-year, while non-GAAP EPS was $1.35, down 5%. The company experienced a 24% decline in GAAP net income, totaling $120 million. Despite challenging conditions, Akamai maintained a strong performance in security solutions.

Akamai Technologies reports that web application attacks on the gaming industry have more than doubled over the past year, highlighting a significant rise in cyber threats. The company’s new report, Gaming Respawned, indicates a 167% increase in such attacks from Q1 2021 to Q1 2022, affecting millions of accounts globally. The report also notes that gaming accounts are at risk of being compromised, leading to potential theft of personal information and financial data. This surge aligns with the growth in the microtransaction market, projected to reach $106.02 billion by 2026.

Akamai Technologies (NASDAQ: AKAM) will host a conference call on August 9, 2022, at 4:30 p.m. ET to discuss its second quarter 2022 financial results. This call may offer forward-looking financial guidance from management. Interested investors can participate via live dial-in or watch a live broadcast on the Investor Relations page of Akamai's website. A replay of the call will be accessible for two weeks post-event. Akamai focuses on providing cloud solutions that secure online experiences for its customers.

Akamai Technologies has awarded $1 million in products and services to Bloomfield Robotics, the winner of its Future of Life Online Challenge. This initiative aims to tackle global food production issues through advanced agricultural technology. Bloomfield Robotics employs AI and imaging hardware to enhance crop monitoring, addressing challenges from environmental pressures and supply chain disruptions. With this grant, Bloomfield will leverage Akamai's edge computing and security solutions to improve the efficiency and safety of its operations, ensuring better crop performance and data protection.

Akamai Technologies (NASDAQ: AKAM) unveiled three crucial research reports at the RSA Conference 2022, focusing on ransomware, web applications and APIs, and DNS traffic. The reports provide an analysis of attack trends and methodologies, revealing that 60% of successful Conti ransomware attacks targeted U.S. companies. Notably, there was a 300% year-over-year increase in web application attacks. Additionally, over 10% of monitored devices were found to communicate with malicious domains, highlighting significant cybersecurity threats. These insights aim to bolster security for organizations worldwide.

Akamai Technologies (NASDAQ: AKAM) announced the launch of Malware Protection, an innovative solution designed to shield web applications and APIs from malicious file uploads. This new offering enhances Akamai's web application and API protection (WAAP) by detecting and blocking malware at the edge of the network, thus preventing potential threats from reaching critical systems. The technology, which requires no installation for customers, addresses the surge in file uploads across various industries, providing a vital security measure for online assets.

Akamai Technologies has launched its first Non-Fungible Token (NFT) artwork titled "Portrait of Life Online," which utilizes data from its Intelligent Edge Platform. The NFT will visually evolve in real-time based on internet traffic and cyberattacks. Bids can be placed from May 11 to June 24, 2022, on the Artano marketplace. All auction proceeds will support the Akamai Foundation's initiatives for STEM education. This dynamic digital artwork showcases humanity's online activities and the complexities of cyber threats, reflecting Akamai's central role in internet safety.

Akamai Technologies will host an in-person Analyst Day in New York City on May 18, 2022. The presentations will start at 8:30 a.m. ET and will feature CEO Tom Leighton and CFO Ed McGowan, discussing the company's strategy, market opportunities, and financial outlook. Investors can access the event live via Akamai's Investor Relations website. Registration is required and can be completed through the provided link. Akamai is known for powering and protecting digital experiences globally, aiding billions in their daily online activities.

Akamai Technologies reported a strong first quarter of 2022, achieving $904 million in revenue, a 7% increase year-over-year, and 9% growth when adjusted for foreign exchange. Security and Compute solutions fueled the growth, with Security revenue reaching $382 million (up 23%) and Compute revenue at $78 million (up 32%). However, GAAP EPS fell by 22% to $0.73. Despite challenges, Akamai's CEO highlighted strong performance and potential for future growth through recent acquisitions.