Limelight Networks Earnings: LLNW Stock Slides on Wide Q1 Loss
Limelight Networks (NASDAQ:LLNW) reported its quarterly earnings results late in the day Wednesday, bringing in a loss that was wider than what analysts projected in their consensus estimate, while revenue was also below what Wall Street called for, playing a role in LLNW stock sliding more than 4% after hours.
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The Tempe, Ariz.-based digital media company said that for its first quarter of its fiscal 2019, it brought in a loss of $8.6 million, which was weaker than its profit from the same period a year ago. The company added that this amounted to a loss of 7 cents per share, or 4 cents per share when adjusted for stock option expenses.
These results were below what analysts predicted of Limelight Networks as the average estimate of three analysts polled by Zacks Investment Research was for a loss of a penny per share. On the revenue front, the business brought in sales of $43.3 million, also below the Zacks guidance–three analysts surveyed by the publication called for revenue of $44.6 million.
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For its fiscal 2019, the company now sees its earnings in the range of 10 cents to 20 cents per share, while revenue is projected between $215 million and $225 million.
LLNW stock is down about 4.8% after the bell today as the company’s results left something to be desired with its earnings and revenue misses. Shares had been gaining 2.7% during regular trading hours as the company prepared itself to report for the period.
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