Limelight Networks Inc. Earnings: Loss Widens but Beats Estimates
Limelight Networks, Inc. (NASDAQ:LLNW) reported its results for the fourth quarter. Limelight Networks is a provider of high-performance content delivery network services.
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Limelight Networks Earnings Cheat Sheet for the Fourth Quarter
Results: Loss widened to $6.6 million (6 cents per diluted share) from $6.3 million (loss of 6 cents per share) in the same quarter a year earlier.
Revenue: Rose 6.9% to $46 million from the year earlier quarter.
Actual vs. Wall St. Expectations: Limelight Networks, Inc. reported an adjusted net loss of one cent per share. By that measure, the company beat the mean analyst estimate of a loss of 6 cents per share. Analysts were expecting revenue of $45.4 million.
Quoting Management: “After two years of transformational work, Limelight Networks now offers high-value integrated solutions which allow our customers to manage their entire digital presence across web, mobile, social, and large screen channels,” said Jeff Lunsford, chairman and chief executive officer. “These cloud-based solutions are being well-received by customers and prospects, and helped us to exceed our revenue forecasts for the fourth quarter. Our high-performance global computing platform allows us to offer advanced features across mobile, On-line Video Platform, content management, front-end acceleration, content delivery, transcoding, live streaming, social enablement and cloud storage. The integration of these differentiates us from point solution providers and allows us to solve complex business problems for our customers. Our content delivery business also helped us exceed revenue forecasts, growing 9% sequentially during a third quarter in a row of favorable CDN pricing trends.”
The company has now beaten estimates the last two quarters. In the third quarter, it topped expectations with a loss of 5 cents versus a mean estimate of a loss of 12 cents per share.
The company reported a net loss last quarter after booking a profit the quarter before that. In the second quarter, the company booked a profit of $13.9 million or 12 cents per share.
Looking Forward: The average estimate for the first quarter of the next fiscal year is steady at 7 cents a share. For the fiscal year, the average estimate has moved from a loss of 33 cents a share to a loss of 32 cents over the last thirty days.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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