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Limelight Networks +8.5% after beat and raise in Q1

Apr. 19, 2018 4:50 PM ETEdgio, Inc. (EGIO) StockBy: Jason Aycock, SA News Editor
  • Limelight Networks (NASDAQ:LLNW) is up 8.5% after hours following a beat on top and bottom lines and some raised full-year guidance in its Q1 earnings.
  • Revenues grew 16.5% Y/Y and were up 8% sequentially.
  • Gross margin on a GAAP basis rose 390 basis points to 51.2%.
  • In company developments, CEO Bob Lento pointed to Goldman Sachs removing a decade-long stock overhang by existing its large equity position in the company, and the resolution of litigation with Akamai Networks.
  • For 2018, it's raising revenue estimates to $198M-$202M (vs. consensus for $199.1M) and raising non-GAAP EPS estimates to $0.13-$0.17, above consensus for $0.12. In February it expected a GAAP loss for 2018 of $0.07 to $0.13; it now expects a GAAP gain of $0.07-$0.11.
  • EBITDA is forecast at $33M-$37M, up from a previous range of $32M-$36M and vs. consensus for $33.9M.
  • Press release

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