Limelight Networks higher 3Q revenue and EPS in line, shares stumble after hours
Limelight Networks Inc (NASDAQ:LLNW) reported what it called the best third quarter revenue in its history while earnings per share was in line with expectations on Thursday as cloud services gave a boost to the company.
The company reported earnings per share at $0.03, in line with the consensus of $0.03 and higher the EPS of US$0.02 a year ago.
Third quarter revenue came in at $49.3 million, about 7% better than the $46.1 million in the year-ago period and the consensus of $49.01 million.
Limelight called it the best third quarter in their history and said they will give guidance later in the fourth quarter.
Shares of Limelight dropped 5.5% in the after-hours to $4.80, having settled 2.42% higher on Thursday at $5.08.
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“Pricing discipline and operational efficiencies are driving gains in gross margin and overall profitability,” said Bob Lento, the CEO of Limelight.
He said the focus on new initiatives is yielding results, pointing in particular to the partnership with Chinese technology giant Tencent.
Limelight Networks is a provider of digital content delivery, video, cloud security, and edge computing services.
Limelight’s edge services platform includes a combination of global private infrastructure, intelligent software, and support services that enable current and future workflows.
The company is based in Tempe, Arizona.
Reporting by Rene Pastor, contactable on [email protected]
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/207425/limelight-networks-higher-3q-revenue-and-eps-in-line-shares-stumble-after-hours-207425.html
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