Akamai Technologies Inc Stock Price, News & Analysis

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.

Akamai (NASDAQ: AKAM) reported second-quarter financial results for 2020, showcasing strong revenue growth driven by Security and Media solutions. Revenue reached $795 million, a 13% increase from $705 million in Q2 2019. The Cloud Security Solutions segment saw a remarkable 27% growth, contributing $259 million to total revenue. Net income rose 42% to $162 million, while GAAP EPS increased by 42% to $0.98 per diluted share. Cash from operations was $299 million, highlighting a robust financial position amidst market challenges.

Akamai's latest report reveals that the media industry experienced a staggering 17 billion credential stuffing attacks from January 2018 to December 2019. Approximately 20% of these attacks targeted media companies, with a 63% year-over-year increase in attacks against the video media sector. The United States led with 1.1 billion attacks in 2019, up 162% from the previous year. Additionally, the report highlights a notable rise in attacks against published content, with a 7,000% increase.