LLNW - Why Limelight Networks Shares Jumped as Much as 28% Today
Shares of content delivery networking expert Limelight Networks (NASDAQ: LLNW) are in the spotlight today, rising as much as 28.2% on the back of a strong earnings report. By 12:40 p.m. EDT, the stock has cooled down to a still-impressive 23.1% gain.
Limelight's third-quarter revenue climbed 4.7% year over year, landing at $51.3 million. Adjusted earnings backed down from $0.03 to $0.01 per diluted share. Your average analyst had been looking for earnings near $0.01 per share on sales in the neighborhood of $49.9 million.
Looking ahead, management issued full-year guidance updates that pointed to breakeven earnings and full-year sales near $205 million. Here, Wall Street had been expecting a net loss of roughly $0.02 per share on revenue closer to $198 million.