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.
Akamai Foundation has announced the recipients of its 2020 global STEM education grants aimed at enhancing technology innovation in underserved communities. Supported by Akamai Technologies (NASDAQ: AKAM), the grants focus on promoting excellence in mathematics for K-12 students in regions including Atlanta, Boston, Costa Rica, and India. In 2020, the Foundation provided $1.1 million for COVID-19 relief and an additional $20 million for diversity initiatives in tech. Future grant proposals will be accepted in early 2021.
Akamai Technologies, Inc. (NASDAQ: AKAM) has been recognized in the 2020 Dow Jones Sustainability Index (DJSI) and FTSE4Good Index, highlighting its commitment to environmental, social, and governance (ESG) standards. This marks Akamai's inclusion in the DJSI North America for the eighth consecutive year, with improved scores across governance, environmental, and social dimensions. The FTSE4Good Index also acknowledged Akamai for the sixth year in a row. These recognitions reflect Akamai's dedication to ethical operations and sustainability, along with its corporate responsibility initiatives, particularly in response to global issues like COVID-19.
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.
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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.
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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.