Shares of Similarweb Ltd. (NYSE: SMWB) skyrocketed 20.14% in Wednesday's trading session following the company's impressive second-quarter earnings report and raised full-year profit guidance. The digital intelligence firm demonstrated robust financial performance, surpassing analyst expectations on both earnings per share and revenue fronts.

Similarweb reported adjusted earnings of $0.01 per share for Q2, significantly outperforming the analyst consensus estimate of a $0.01 loss. While this represents an 80% decrease compared to the same period last year, it marks a substantial beat over expectations. The company's revenue climbed 17% year-over-year to $70.97 million, exceeding the analyst forecast of $68.80 million.

The strong quarterly results were driven by an 18% increase in the company's customer base, with CFO Jason Schwartz highlighting the growing demand for Generative AI and Large Language Model (LLM) training. Notably, AI-related revenues accounted for nearly 8% of Q2 revenues, contributing significantly to the company's growth. Furthermore, Similarweb raised its fiscal year 2025 adjusted operating profit guidance to a range of $5 million to $7 million, up from the previous forecast of $1 million to $4 million, signaling management's confidence in the company's future performance. The positive earnings surprise and optimistic outlook have reignited investor enthusiasm, propelling the stock to its substantial intraday gain.