Akamai beats quarterly estimates on cloud infrastructure demand

Akamai Technologies beat analysts' estimates for the second quarter on Thursday, supported by steady demand across its security and cloud infrastructure services portfolios, sending its shares up 10.5% in extended trading.

The company recorded cloud infrastructure services revenue of $99 million, up 39% over the year earlier.

• The cybersecurity and cloud computing company's customers include Adobe, eBay and Electronic Arts, as well as the U.S. defense and labor departments.
• Its second-quarter revenue came at $1.099 billion, slightly ahead of analysts' average estimate of $1.092 billion, according to data compiled by LSEG.
• Its adjusted profit per share of $1.59 also topped the estimate of $1.57.
• The company expects third-quarter revenue to be between $1.11 billion and $1.13 billion, and adjusted profit at $1.6 to $1.8 per share — both largely in line with estimates.