Why Limelight Networks Stock Is Falling Today (After Jumping Last Night)
Shares of Limelight Networks (NASDAQ: LLNW) fell as much as 15% on Tuesday morning, following the content delivery network (CDN) veteran's second-quarter earnings report. Curiously, the stock rose as much as 11% in Monday's after-hours trading based on the same news.
Limelight reported an adjusted net loss of $0.01 per share on $58.6 million in top-line sales. That's a 67% smaller loss on 28% higher sales, compared with the year-ago period. Analysts had been expecting earnings near $0.01 per share on approximately $56.7 million of revenue, making this a mixed report.
Looking ahead, Limelight raised the midpoint of its full-year revenue guidance from $230 million to $235 million while holding the targets steady for earnings, adjusted EBITDA profits, and capital expenses.
Source Fool.com
