On August 7, Akamai rose 12.61% overnight, trading at $133.5/share, with turnover of $534.0.

The rally was driven by the company's Q2 earnings release, which beat market expectations on both revenue and profit lines, with cloud infrastructure services emerging as the standout growth driver.

Akamai reported Q2 adjusted EPS of $1.59, surpassing the consensus estimate of $1.57, while total revenue reached $1.099 billion versus the $1.092 billion expected. The highlight was cloud infrastructure services revenue of $99 million, representing 39% year-over-year growth. For Q3, the company guided revenue of $1.11 billion to $1.13 billion and adjusted EPS of $1.60 to $1.80, largely in line with expectations. Full-year adjusted EPS guidance of $6.40 to $7.05 brackets the FactSet estimate of $6.69. Notably, while adjusted EPS declined 8.09% from $1.73 a year earlier, the strong cloud infrastructure momentum — previously validated by BofA Securities upgrading the stock to buy, calling it a credible AI infrastructure platform — helped investors look past the earnings contraction.

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