Akamai Q2 Revenue Hits $1.1B, Cloud Infrastructure Surges 39%
AKAM sits 57% above its 52-week low of $69.78.
Summary
Akamai reported Q2 revenue of $1.10B, up 5% year-over-year, with adjusted EPS of $1.59. Cloud Infrastructure revenue jumped 39% to $99M, while Security grew 10% to $604M. The company guided Q3 revenue to $1.105–1.13B. Following the results, TD Cowen raised its price target to $140 and Guggenheim to $190. This is the first earnings report since the $3B convertible note offering and LayerX acquisition closed, providing a fresh look at the combined business trajectory.
At the time of this announcement, AKAM was trading at $109.78 on NASDAQ in the Technology sector, with a market capitalization of approximately $16.1B. The 52-week trading range was $69.78 to $165.45. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.