October 27, 2011, 4:41 PM

Akamai reports 11% revenue growth in Q3 and hires two senior executives

The content delivery network operator hires execs from Cisco and Direct Energy.

Lead Photo

CEO Paul Sagan

Akamai Technologies Inc., has hired two new top executives and reported an 11% year-over-year increase in revenue in the third quarter.

Rick M. McConnell becomes the new executive vice president of products and development, Akamai says. He will oversee product development in the company’s Site, Enterprise Cloud and Media divisions. McConnell has held senior executive positions at Cisco Systems, most recently as vice president and general manager of the Unified Communications Business Unit.

"Rick's strong background in complex Internet technologies and products will be a major asset to Akamai," says Paul Sagan, Akamai’s president and CEO.

The company also appointed Kumud Kalia as chief information officer. Kalia, previously the head of information services for energy and services business Direct Energy, will lead global strategy, development and operation of applications and infrastructure that support Akamai’s business.

Also, in its third quarter earnings release this week, Akamai reported:

• Revenue of $281.9 million, an 11.2% increase compared with $253.6 million in the third quarter of 2010 and a 1.8% jump over second quarter 2011 revenue of $277.0 million.

• Net income of $63.4 million, down 1.2% from $64.2 million in the same period last year.

"We are pleased with Akamai's performance in the third quarter, as more customers adopted the Akamai Platform for their online businesses," Sagan says. “We have continued to develop the platform of choice for businesses seeking to capitalize on opportunities in mobile, cloud, security, and video, as well as manage the risks of the hyperconnected world."

154 merchants in The Top 500 Guide, including Office Depot Inc. (No. 5), Walmart.com (No. 6) and Sears Holdings Corp. (no. 7), use Akamai for content delivery services.


comments powered by Disqus




From IR Blogs


Reuben Hendell / E-Commerce

How branded content engages online shoppers

There are many types of content specific to a brand that can set that brand ...


Przemyslaw Mankowski / E-Commerce

How can online businesses benefit from programmatic marketing?

With access now to vast and more accurate data, programmatic marketing brings us ever closer ...