LLNW - Limelight Networks -18% after wider losses despite Q3 record revenue

Limelight Networks (LLNW) has slid 18.2% after hours following Q3 earnings where it surprised analysts with a non-GAAP loss, despite revenues that came in generally as expected with a double-digit increase. Revenues hit a Q3 record $59.2M, up 15%, and its second-best revenue quarter ever. But net loss widened on a GAAP basis to $4M from a year-ago loss of $2.8M (includes $1.7M in interest expense). And it swung to a non-GAAP net loss of $1.2M from a year-ago gain of $0.6M. Adjusted EBITDA fell to $5.6M from a prior-year $5.8M. The company ended the quarter with 620 employees/equivalents, down from Q2's 627 but up from 609 a year ago. Full-year 2020 guidance is unchanged, with revenue expectations generally in line with consensus and adjusted EPS of -$0.02 to $0.08 (the top end landing at consensus for $0.08). Conference call to come at 4:30 p.m. ET. Press release

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Limelight Networks -18% after wider losses despite Q3 record revenue