Akamai Technologies (AKAM) Stock

Akamai has improved its cloud security offerings by upgrading its Guardicore Segmentation and Enterprise Application Access solutions.

Akamai is dedicated to assisting customers in reaching their Zero Trust objectives. On November 19, 2024, the company announced that it is enhancing its top segmentation solution, Akamai Guardicore Segmentation, to provide agentless enforcement for cloud-native resources in Amazon Web Services (AWS). This update broadens its current features in cloud settings.

On November 15, 2024, in Cambridge, Massachusetts, Akamai (NASDAQ: AKAM), a company specializing in cybersecurity and cloud computing, announced that it has successfully bid to acquire certain assets from Edgio. This includes customer contracts related to Edgio's security and content delivery services, as well as non-exclusive rights to use Edgio's complete patent portfolio.

Akamai Technologies reported mixed results for Q3, with a 3.6% increase in revenue compared to last year, but a notable decline in GAAP operating margin because of restructuring costs. The company's future outlook is not strong, as they have reduced their full-year revenue and profit predictions, resulting in a 15% decrease in share price. However, Akamai's security and computing divisions appear to have good growth potential, especially in cloud services and online security.

Akamai Technologies, Inc. has introduced the Akamai App Platform, which addresses three major obstacles to wider Kubernetes use: skills, scale, and vendor lock-in. This platform provides a straightforward solution for deploying, managing, and scaling distributed applications. The announcement was made on November 12, 2024, in Cambridge, Massachusetts.

Akamai's stock dropped 14% on Friday after the release of its Q3 earnings report, which mostly met expectations but included a disappointing outlook for Q4. Additionally, the ongoing decrease in the company's main content delivery network business seems to have increased concerns among investors.

AKAM has reported an increase in revenue compared to last year, thanks to strong growth in several areas.

Akamai Technologies (AKAM) reported quarterly earnings of $1.59 per share, matching the Zacks Consensus Estimate. This is a decrease compared to earnings of $1.63 per share from the same period last year.

On Thursday, Akamai Technologies predicted that its revenue for the fourth quarter would be lower than expected. The company believes that clients are likely to reduce their spending on cloud and content delivery services due to the uncertain economic situation.