CAMBRIDGE, Mass., Nov. 15, 2024 /PRNewswire/ -- Akamai (NASDAQ: AKAM), the cybersecurity and cloud computing company that powers and protects business online, today announced it is the winning bidder to acquire select assets from Edgio, including customer contracts from Edgio's businesses in security and content delivery, and non-exclusive license rights to Edgio's entire patent portfolio. No assets related to the Edgio network would be acquired as part of the bid. Pursuant to Edgio's filing for Chapter 11 ...

Akamai Technologies, Inc. (NASDAQ: AKAM ) recently reported its Q3 earnings , so I wanted to go through the numbers in a bit more detail and give some comments on the company's outlook and why I am still not invested. TheMSc in Finance. Long-term horizon investor mostly with 5-10 year horizon. I like to keep investing simple. I believe a portfolio should consist of a mix of growth, value, and dividend-paying stocks but usually end up looking for value more than anything. I also sell options from time to tim ...

CAMBRIDGE, Mass., Nov. 14, 2024 /PRNewswire/ -- Akamai Technologies Inc. (NASDAQ: AKAM), the cybersecurity and cloud computing company that powers and protects business online, announced today that Avesha Technologies is the latest organization to join the Akamai Qualified Compute Partner Program as an Independent Software Vendor (ISV). Avesha Technologies is providing two distinct Kubernetes solutions–one for connectivity and one for autoscaling.As an ISV in the Akamai Qualified Compute Partner Program, Av ...

Only 27% of respondents know which APIs return the sensitive data that attackers seekCAMBRIDGE, Mass., Nov. 13, 2024 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, today announced new research showing that while API attacks are rising, visibility into API risks that open doors for attackers is declining. Now in its third year, the API Security Impact Study (formerly the API Security Disconnect) explores the state of API protection based on a ...

Solves three of the biggest challenges for greater Kubernetes adoption: skills, scale, and lock-inCAMBRIDGE, Mass., Nov. 12, 2024 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM), the cybersecurity and cloud company that powers and protects business online, today announced the Akamai App Platform, a ready-to-run solution that makes it easy to deploy, manage, and scale highly distributed applications. Akamai App Platform is a ready-to-run solution that makes it easy to deploy, manage, and scale h ...

Toronto , Canada - 28 June 2023; Tom Leighton, Co-founder & CEO, Akamai Technologies, on FullSTK ... [+] stage during day two of Collision 2023 at Enercare Centre in Toronto, Canada. (Photo By Ramsey Cardy/Sportsfile for Collision via Getty Images)Sportsfile via Getty ImagesAkamai stock tumbled 14% in Friday’s trading following its Q3 earnings report, which largely met expectations but raised concerns with a weaker Q4 guidance. Moreover, the continued decline in the company’s core content delivery network b ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________ FORM 10-Q ______________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-27275 ________________________ ...

Akamai Technologies, Inc. (AKAM) reported relatively healthy third-quarter 2024 results, wherein adjusted earnings matched the Zacks Consensus Estimate while revenues beat the same.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The company recorded higher revenues year over year, driven by healthy demand trends in multiple end markets. Strength in API security solutions was a positive factor. The introduction of advanced video workflow capabilities and the integration of Yospace in ...

Financial Data and Key Metrics - Total revenue for Q3 2024 was $1.005 billion, up 4% year-over-year, marking the company's first $1 billion quarter [12] - Compute revenue grew to $167 million, up 28% year-over-year, including a $7 million one-time benefit from a legacy contract [12] - Security revenue was $519 million, a 14% year-over-year increase, with $3 million in one-time license revenue [13] - Delivery revenue declined 16% year-over-year to $319 million, with a 3% sequential decline, an improvement from previous quarters [14] - Non-GAAP operating margin was 29%, and non-GAAP earnings per share were $1.59, in line with guidance [3][12] Business Line Performance - Security business exceeded $2 billion in annual revenue run rate, with strong customer interest and significant contracts, including a $70 million deal with a major financial institution [3][4] - Compute business saw strong momentum, with revenue growing 28% year-over-year, and enterprise compute solutions on track to achieve a $100 million annualized revenue run rate by year-end [6][12] - Delivery business faced macroeconomic headwinds, with slow traffic growth in streaming and gaming, but the company remains positioned to capitalize on future traffic growth [9][14] Market Performance - International revenue was $480 million, up 3% year-over-year, representing 48% of total revenue [14] - Strong interest in Prolexic DDoS protection due to large attacks in Asia, with the company thwarting two of the largest DDoS attacks ever seen [4] - Compute wins were seen across various regions, including the US, Europe, Latin America, and APJ, with significant deals in retail, SaaS, and media [6] Strategic Direction and Industry Competition - The company is shifting from a content delivery pioneer to a cybersecurity and cloud computing leader, with security and compute now accounting for over two-thirds of revenue [3][10] - Investments are being made in cloud computing capabilities, new security products, and go-to-market resources to expand the enterprise market [10][11] - The company is leveraging generative AI to enhance security solutions, such as Guardicore and WAF, and is differentiating itself with threat visibility and managed services [3][5] Management Commentary on Operating Environment and Future Outlook - Management noted macroeconomic headwinds impacting the delivery business but expects traffic growth to rebound in the future [9][14] - The company is focusing on profitability and cross-selling opportunities in delivery while reinvesting cash flow into faster-growing areas like security and compute [9][10] - Management is optimistic about the potential for future growth in cloud computing and security, with plans to shift more investment into these areas [10][11] Other Important Information - The company took an $82 million restructuring charge in Q3, primarily due to workforce reduction and severance costs, expected to result in $45 million in annualized savings [15] - Q4 revenue guidance is projected between $995 million and $1.020 billion, with non-GAAP operating margin expected to be 27% to 28% [16] - Full-year 2024 revenue is expected to be $3.966 billion to $3.991 billion, with security growth of 15% to 17% and compute growth of approximately 25% [18] Q&A Session Summary Question: Role of GenAI in Security - GenAI is being used by malicious actors to increase attacks, but the company is leveraging AI and ML in its security products for anomaly detection, bot detection, and customer deployment management [21] Question: Impact of Industry Consolidation - Consolidation in the delivery market is seen as positive, with the company expecting a stabilization of the market and potential for increased profitability [23][24] Question: Shift in Go-to-Market Strategy - The company is investing in hunters, sales specialists, and channel partners to accelerate growth in compute and security, driven by strong traction in API security and enterprise compute [26] Question: Advanced Security Package Penetration - The advanced security package has reached high penetration, with year-over-year comparisons now reflecting sales in both quarters [28] Question: Compute Profitability and CapEx - Compute profitability is still scaling, with better flow-through expected as the business grows, while CapEx is expected to remain stable in the near term [32][33] Question: Delivery Revenue Decline - Delivery revenue decline is attributed to slow traffic growth and tough year-over-year comparisons, with pricing pressure easing but not yet offsetting the decline [36] Question: Compute Use Cases and Vertical Performance - Compute use cases span multiple verticals, with a sweet spot in media workflow, and strong adoption across new and existing customers [39][44] Question: Security Product Performance - Security products, including WAF and DDoS, showed strong performance, with continued growth across all segments [40]

Akamai Technologies (AKAM) reported $1 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 4.1%. EPS of $1.59 for the same period compares to $1.63 a year ago.The reported revenue represents a surprise of +0.42% over the Zacks Consensus Estimate of $1 billion. With the consensus EPS estimate being $1.59, the company has not delivered EPS surprise.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they com ...