As the Q2 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the content delivery industry, including F5 (NASDAQ: FFIV) and its peers.

The amount of content on the internet is exploding, whether it is music, movies and or e-commerce stores. Consumer demand for this content creates network congestion, much like a digital traffic jam which drives demand for specialized content delivery networks (CDN) services that alleviate potential network bottlenecks.

The 4 content delivery stocks we track reported a very strong Q2. As a group, revenues beat analysts’ consensus estimates by 3.6% while next quarter’s revenue guidance was 1.8% above.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 10% since the latest earnings results.

F5 (NASDAQ: FFIV)

Originally named after the F5 tornado, the most powerful on the meteorological scale, F5 (NASDAQ: FFIV) provides security and delivery solutions that protect applications across cloud, data center, and edge environments for large organizations.

F5 reported revenues of $865.1 million, up 10.9% year on year. This print exceeded analysts’ expectations by 3.6%. Overall, it was an exceptional quarter for the company with a solid beat of analysts’ billings estimates and an impressive beat of analysts’ adjusted operating income estimates.

“Q3 was another outstanding quarter with 19% product revenue growth driving 11% total revenue growth year over year,” said François Locoh-Donou, F5’s Chairman, President, and CEO.

Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 4.5% since reporting and currently trades at $389.69.

Is now the time to buy F5? Access our full analysis of the earnings results here, it’s free.

Best Q2: Fastly (NASDAQ: FSLY)

Taking its name from the core advantage it delivers to customers, Fastly (NASDAQ: FSLY) operates an edge cloud platform that processes, secures, and delivers web content as close to end users as possible, enabling faster digital experiences.

Fastly reported revenues of $183.3 million, up 23.3% year on year, outperforming analysts’ expectations by 5.3%. The business had an exceptional quarter with EPS guidance for next quarter exceeding analysts’ expectations and a solid beat of analysts’ adjusted operating income estimates.

Fastly scored the biggest analyst estimate beat, highest guidance raise, and highest full-year guidance raise in the group. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 21.5% since reporting. It currently trades at $20.43.

Is now the time to buy Fastly? Access our full analysis of the earnings results here, it’s free.

Weakest Q2: Akamai (NASDAQ: AKAM)

With a massive distributed network spanning 4,100+ points of presence in nearly 130 countries, Akamai Technologies (NASDAQ: AKAM) provides a global distributed cloud platform that helps businesses deliver, secure, and optimize their digital experiences online.

Akamai reported revenues of $1.1 billion, up 5.4% year on year, exceeding analysts’ expectations by 0.6%. Still, it was a slower quarter as it posted a miss of analysts’ adjusted operating income estimates and full-year revenue guidance meeting analysts’ expectations.

Akamai delivered the weakest performance against analyst estimates, weakest guidance update, and slowest revenue growth among its peers. As expected, the stock is down 11% since the results and currently trades at $105.55.

Read our full analysis of Akamai’s results here.

Cloudflare (NYSE: NET)

With a massive network spanning more than 310 cities in over 120 countries, Cloudflare (NYSE: NET) provides a global network that delivers security, performance and reliability services to protect websites, applications, and corporate networks.

Cloudflare reported revenues of $696.1 million, up 35.9% year on year. This result surpassed analysts’ expectations by 4.7%. Overall, it was an exceptional quarter as it also logged an impressive beat of analysts’ billings estimates and EPS guidance for next quarter exceeding analysts’ expectations.

Cloudflare achieved the fastest revenue growth of the whole group. The stock is down 3.1% since reporting and currently trades at $275.75.

Read our full, actionable report on Cloudflare here, it’s free.

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.