LLNW - Why Limelight Networks Stock Plunged Today
Shares of Limelight Networks (NASDAQ: LLNW) have plunged today, down by 13% as of noon EDT, after the content delivery network (CDN) specialist reported first-quarter earnings. The results beat expectations and Limelight modestly boosted its guidance. It also announced a CFO transition.
Revenue in the first quarter increased 32% to $57 million, ahead of the $54.7 million in sales that analysts were modeling for. That all translated into break-even adjusted earnings per share. The consensus estimate called for an adjusted net loss of $0.02 per share. Adjusted EBITDA in the first quarter was $5.6 million.
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