Limelight Networks: 2Q Earnings Snapshot
Posted July 20, 2020 4:13 pm.
Last Updated July 20, 2020 4:24 pm.
SCOTTSDALE, Ariz. (AP) _ Limelight Networks Inc. (LLNW) on Monday reported a loss of $1.7 million in its second quarter.
On a per-share basis, the Scottsdale, Arizona-based company said it had a loss of 1 cent. Earnings, adjusted for stock option expense, came to 3 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The network services company posted revenue of $58.5 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $57 million.
Limelight Networks expects full-year revenue in the range of $230 million to $240 million.
Limelight Networks shares have climbed 87% since the beginning of the year. In the final minutes of trading on Monday, shares hit $7.62, more than tripling in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LLNW at https://www.zacks.com/ap/LLNW
The Associated Press
