Limelight Networks Shares Sink 20% On Wider-Than-Expected 1Q Loss

- Advertisement -


By Denny Jacob

- Advertisement -
- Advertisement -

Limelight Networks Inc. The company reported a wider-than-expected loss in its first quarter.

The content delivery network services company logged a loss of $19.2 million, or 14 cents a share, for the quarter ended March 31, narrowing from a loss of $25.5 million, or 21 cents a share, in the year-ago period. Analysts polled by FactSet expected a loss of 9 cents a share.

- Advertisement -

Limelight reported an adjusted loss of 4 cents a share, matching analysts’ expectations.

Revenue rose 13% to $58 million. Analysts polled by FactSet expected $56.3 million.

The company said it is maintaining its full year guidance based on its acquisition of Edgecast closing in the next 30 to 60 days. It said it expects second quarter revenue to be consistent with the first.

Limelight Networks guided for 2022 revenue of $240 million to $250 million and adjusted per-share loss of 6 cents to 1 cent.

Write to Denny Jacob at [email protected]

,

Credit: www.marketwatch.com /

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox