Akamai Q2 up 13% despite Covid
July 30, 2020
Akamai Technologies reported revenue for its Q2 of $795 million, up 13 per cent year-on-year.
Revenue from Akamai’s Media and Carrier Division was $390 million, up 19 per cent year-on-year and 20 per cent in constant currency. “The outstanding performance of our Media and Carrier Division was a result of very strong traffic growth in OTT video, gaming and software downloads,” said the company.
CEO Tom Leighton told analysts: “These very strong results were driven by a continuation of the high traffic levels we’ve seen since the onset of the pandemic, very strong demand for our Cloud Security Solutions and by our ongoing focus on operational efficiency. Akamai was founded with the vision of enabling the internet to scale.”
He added: “In our 22-year history as a company, there’s never been a time when Akamai’s importance and value to daily life has been more evident. Due to the incredible work of our highly talented employees, we believe that Akamai has become an indispensable part of the internet, supporting remote work, home entertainment, the learning online banking, home deliveries, logistics, security systems, and commercial transactions of all kinds, for billions of people around the world as they cope with a pandemic.”
Akamai stated that it has gained traffic share in Q2. “Akamai now works with more than 220 of the world’s largest OTT and broadcasting companies, as well as with 24 of the world’s 25 most popular video game publishers,” added Leighton.
However, Leighton also cautioned that it continues to see deliberate attacks and threats to its systems. “The size and sophistication of attacks has risen dramatically since the pandemic began. As threat actors take advantage of the distraction and vulnerabilities created by employees working remotely. Data from our Enterprise Threat Protector service shows that employee visits to sites with malware rose nearly five-fold in Q2.”
The company issued guidance for Q3 (“revenues between $760-785 million”) and for the full year of $3.125 million-$3.175 million.