LLNW - Why Limelight Networks Shares Fell 14.8% in July
Shares of Limelight Networks (NASDAQ: LLNW) fell 14.8% in July 2020, according to data from S&P Global Market Intelligence. The content delivery network (CDN) operator delivered a mixed second-quarter report. A few investors brushed off the company's solid sales to focus on soft earnings instead, cashing in some of their Limelight profits.
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On July 20, Limelight reported a $0.01 loss per share, an improvement from a $0.03 loss per share in the year-ago quarter. Sales rose 28% to $58.6 million. The Street's consensus estimates had pointed to earnings near $0.01 per share on approximately $56.7 million in top-line revenue.