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 Technologies (NASDAQ: AKAM) will hold an investor conference call on February 9, 2021, at 4:30 p.m. ET to discuss its fourth quarter and full year 2020 financial results. This call may include forward-looking financial guidance from management. Investors can dial in using the U.S. number (844) 578-9671 or the international number (508) 637-5655, with a Conference ID of 1944449. A replay will be available for two weeks following the call. Akamai is recognized for securing and delivering digital experiences for major global companies.
Akamai Technologies (NASDAQ: AKAM) announced the launch of a new Akamai Partner Program aimed at enhancing channel partners' capabilities to offer high-value services. The program introduces a 6-month transition period for partners, featuring new training, certification levels, and financial incentives. This initiative is designed to provide more flexibility and earning potential for partners while allowing them to independently handle customer needs across Akamai's products. The company aims to strengthen its market presence and partner relations through this initiative.
Akamai (NASDAQ: AKAM) has announced a partnership with Telenor Myanmar, launching the SPS Shield product to enhance cybersecurity for Telenor's business customers. This service protects against various online threats like bots and phishing without requiring additional software or hardware. SPS Shield is part of Akamai's Security and Personalization Services portfolio, designed for ISPs and MNOs. It leverages AI-driven threat intelligence to ensure robust protection. Telenor Myanmar, serving 17 million customers, emphasizes the importance of customer security in maintaining trust.
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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