Limelight Networks Earnings: Revenue Sees Growth
Limelight Networks, Inc. (NASDAQ:LLNW) reported its results for the first quarter. Limelight Networks is a provider of high-performance content delivery network services.
Investing Insights: What’s the Future of Microsoft’s Stock?
Limelight Networks Earnings Cheat Sheet for the First Quarter
Results: Loss widened to $10 million (10 cents per diluted share) from $9.8 million (loss of 9 cents per share) in the same quarter a year earlier.
Revenue: Rose 7% to $44.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Limelight Networks, Inc. reported adjusted net loss of 5 cents a share. By that measure, it beat the mean analyst estimate of a loss of 9 cents per share. Analysts were expecting revenue of $44.4 million.
Quoting Management: “Limelight Networks’ suite of high-value solutions allow our customers to manage their entire digital presence across web, mobile, social, and large screen channels on one platform,” said Jeff Lunsford, chairman and chief executive officer. “These cloud-based solutions are being well-received by customers and prospects, and contributed to 66% year-over-year growth in our value added services. Our high-performance global compute and delivery platform allows us to offer advanced features across mobile, video and content management, website acceleration, content delivery, transcoding, live streaming, social enablement and cloud storage. The integration of these differentiates Limelight from point solution providers and allows our customers to streamline their workflow, deliver exceptional multi-screen experiences to their customers, and enhance their bottom lines.”
Looking Forward: The average estimate for the second quarter is down from a loss of 6 cents per share ninety days ago to a loss of 8 cents, indicating that analysts are increasingly pessimistic about the company’s next quarter performance. For the fiscal year, the average estimate has moved from a loss of 26 cents a share to a loss of 28 cents over the last ninety days.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
Don’t Miss These Additional Hot Stories: