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 (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.