Akamai Tech

Q2 FY2026 EarningsQ2 FY26 revenue of $1,100M slightly beat the $1,093M consensus, while normalized EPS of $1.59 beat expectations of $1.58. Strong growth in Cloud Infrastructure (+39% YoY) and Security (+10% YoY) offset a 6% decline in Delivery revenue. However, GAAP profitability was pressured by increased stock-based compensation and expansion costs, with GAAP EPS of $0.52 missing the $0.65 consensus. Massive capital investment in AI infrastructure is underway, signaled by $3.5B in new convertible debt issued during the quarter.