LLNW - Limelight Networks: Q2 Breaks The Bull Case
Limelight Networks (LLNW) had a hugely important second quarter report on Wednesday evening. As I wrote at the beginning of May, LLNW looked like a binary story heading into earnings. Fundamentally and qualitatively, a strong Q2 - which had to include reaffirmed full-year guidance - suggested big potential upside for LLNW shares. A miss, on the other hand, would bring valuation into question - and amplify existing concerns about Limelight management.
Essentially, the worst-case scenario played out. Limelight's numbers missed Street expectations - which had already discounted the company's guidance. Management's response can