Akamai Technologies Inc (AKAM) · Nov 5, 2026 · Earnings

Akamai earnings beat as AI-cloud growth accelerates

Beat — Non-GAAP EPS $1.77 vs ~$1.67 consensus; revenue $1.122B vs ~$1.12B

Akamai’s Q3 earnings beat consensus, led by Cloud Infrastructure Services, but margins fell and full-year guidance narrowed.

Akamai is in the middle of a business transition: its legacy delivery business is shrinking, while security and Cloud Infrastructure Services are being built into an AI-infrastructure platform. The market already knew the direction—Akamai had disclosed more than $2.8 billion of CIS commitments by the second quarter, followed by a much larger Anthropic commitment in September—so this quarter matters mainly for evidence that the pivot is converting into revenue.

The quarter beat the published bar, mainly on earnings. Revenue was roughly in line with the ~$1.12 billion consensus, but non-GAAP EPS of $1.77 exceeded the ~$1.67 expectation. That is a real execution beat, although year-over-year earnings still declined as investment and cost pressure remained elevated. The company reported GAAP diluted EPS of $0.77, down 21% year over year, and non-GAAP diluted EPS of $1.77, down 5%.

Metric	Q3 2026	Q3 2025	Consensus / prior guide
Revenue (Financial Statements)	$1.122B (+6%)	$1.055B	~$1.12B
Non-GAAP diluted EPS (EPS reconciliation)	$1.77 (-5%)	$1.86	~$1.67
Cloud Infrastructure revenue (Solution revenue)	$108.8M (+34%)	$81.2M
Non-GAAP operating margin (Non-GAAP reconciliation)	25% (-6 pts)	31%	24%-26% Q3 guide
FY2026 revenue guide (Financial guidance)	$4.440B-$4.465B		$4.445B-$4.530B prior guide

The strategic pivot is showing up clearly in the mix. Cloud Infrastructure Services grew 34% year over year to $108.8 million, while Security grew 9% and Delivery and Other Cloud Applications fell 3%. That is the right direction for Akamai’s stated AI-cloud strategy: the fastest-growing business is now the one being funded for expansion, and management says more than $14 billion of multi-year commitments have been signed this year.

The cost of that transition is visible in margins and cash investment. Non-GAAP operating margin held at 25% sequentially but fell from 31% a year earlier, while capital expenditures reached $464 million in the quarter, or 41% of revenue, versus 21% a year ago. Operating cash flow remained substantial at $433 million, but the infrastructure buildout is absorbing much more capital than the old business required.

The full-year outlook is narrower and slightly less ambitious than before. Akamai’s new FY2026 revenue range of $4.440 billion-$4.465 billion trims the prior high end of $4.530 billion, while the non-GAAP EPS range of $6.47-$6.68 also comes in below the prior $7.05 high end. The company did not cut the near-term business thesis, but it is giving up some execution cushion as investment, dilution and the timing of CIS deployments weigh on reported profitability.

Management is asking the market to underwrite acceleration beyond 2026. The release projects 17%-22% constant-currency revenue growth in 2027 and more than $7 billion of revenue in 2028, but those are forward targets rather than current-period results. The evidence today supports the direction through CIS growth and signed commitments; it does not yet show that the new business has restored company-wide margins.

Bottom line: This was a genuine earnings beat and further proof that Cloud Infrastructure Services is becoming Akamai’s growth engine. The story improves, but the lower-margin, capital-heavy buildout means the transition is advancing faster than the profit profile is recovering.

What to watch next

Q4 earnings and 2027 outlook, early 2027

Original filing on SEC EDGAR

More Akamai Technologies Inc news

Cloud infrastructure surged, but margins fell and full-year guidance slipped

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

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Akamai earnings beat as AI-cloud growth accelerates

What to watch next

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