Why Limelight Networks Stock Fell 29% Today
Shares of Limelight Networks (NASDAQ: LLNW) took a steep plunge today, on the heels of the early morning's first-quarter earnings report. The stock was down as much as 28.8% at 12:15 p.m. ET on very heavy trading volume.
Curiously, Limelight's results met or exceeded Wall Street's expectations. Top-line sales rose 13% year over year, landing at $58 million. On the bottom line, adjusted net losses improved from $0.09 per share in the year-ago period to $0.04 per share in 2022. The net loss was right in line with the Street's consensus estimate, and your average analyst would have settled for revenue near $56.3 million.
Image source: Getty Images.
Source Fool.com