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Despite reversing to a loss in the third quarter, Limelight Networks, Inc. (NASDAQ:LLNW) can hang its hat on beating Wall Street’s expectations. Limelight Networks is a provider of high-performance content delivery network services.
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Limelight Networks, Inc. Earnings Cheat Sheet
Results: Reported a loss of $828.0 (one cent per diluted share) in the quarter. Limelight Networks, Inc. had a net income of $5 million or 4 cents per share in the year-earlier quarter.
Revenue: Rose 6.3% to $45 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Limelight Networks, Inc. beat the mean analyst estimate of a loss of 10 cents per share. Analysts were expecting revenue of $44.4 million.
Quoting Management: “The impact of the digital world grows with each passing day, placing stewardship of an organization’s Digital Presence squarely in the Executive-Suite,” said Jeff Lunsford, chairman and chief executive officer. “Today, by the time a person speaks with a salesperson, orders a product, visits a store, or casts a vote, they have already formed their opinion based on experiences in the digital realm. Therefore, organizations must actively manage their Digital Presence across all types of online channels, including web, mobile, social, living room, and all other digitally delivered points of customer interaction.”
A year-over-year revenue increase last quarter snaps a streak of four consecutive quarters of revenue declines. The worst quarter in that span was the fourth quarter of the last fiscal year, which saw a 16.8% decrease.
The company beat estimates last quarter after meeting expectations in the second quarter with a loss of 9 cents per share.
Looking Forward: The average estimate for the fourth quarter is down from a loss of 7 cents per share ninety days ago to a loss of 8 cents, indicating that analysts are increasingly pessimistic about the company’s next quarter performance. For the fiscal year, the average estimate has moved from a loss of 35 cents a share to a loss of 36 cents over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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