Why Limelight Networks Stock Crashed on Friday
Shares of Limelight Networks (NASDAQ: LLNW) crashed on Friday, following the company's mixed third-quarter earnings report. The stock of the expert in content delivery networks fell as much as 29.6% in the early morning, recovering to a 27.4% drop as of 10:38 a.m. EDT today.
Limelight's sales rose 15% year over year to $59.2 million. Adjusted earnings swung from a $0.01 profit to a $0.01 loss per share. Your average analyst expected earnings near $0.02 per share on revenue in the neighborhood of $58.9 million.
Management also lowered the midpoint of its full-year earnings guidance from $0.08 to $0.06 per share while leaving the top-line target unchanged at approximately $235 million.
Source Fool.com
