Limelight Networks (LLNW) Reports In-Line Q3 EPS, Revenues Slightly Beat; Lifts FY18 EPS Mid-Point Outlook

Limelight Networks (NASDAQ: LLNW) reported Q3 EPS of $0.03, in-line with the analyst estimate of $0.03. Revenue for the quarter came in at $49.03 million versus the consensus estimate of $49.01 million.

• Revenue of $49.3 million, up 7 percent year over year
• GAAP basic EPS of break-even and Non-GAAP EPS of $0.03
• Operating cash inflow of over $11 million, highest in over a decade
• Cash and marketable securities of $52.7 million
• Confirming guidance and tightening ranges with lower capital expenditures

“We are pleased with Limelight’s third quarter results that showed year over year improvements even in a seasonally weak quarter, and marked record achievements across multiple key financial and non-financial metrics. Customers continue to reward Limelight’s performance gains by sending us more business, and we believe we are continuing to take market share. Pricing discipline and operational efficiencies are driving gains in gross margin and overall profitability, and at the same time, the continuing improvement in an already strong Net Promoter Score confirms our customer’s growing satisfaction with the value they obtain from Limelight,” said Bob Lento, Chief Executive Officer at Limelight.

“In light of the strength of our results, we are confident we will finish 2018 ahead of the expectations we set at the start of the year and within the range of outcomes we laid out last quarter. Importantly, our focus on new initiatives is yielding results. The two-way partnership with Tencent is exciting for the near term. The Ericsson initiative and the Realtime streaming opportunities should drive revenue and margin growth in the medium-term and our strategic focus on edge services will contribute to meaningful growth and profitability in the long-term. While there is opportunity to do even better, we are very pleased with our performance on multiple fronts. Our talented and dedicated employees continue to enhance our strategic focus while driving ever-higher operating discipline. Altogether, we believe we are building a better Limelight for all stakeholders and remain acutely focused on delivering exceptional shareholder returns,” Mr. Lento added.

GUIDANCE:

Limelight Networks sees FY2018 EPS of $0.14-$0.17, versus the consensus of $0.15. Limelight Networks sees FY2018 revenue of $200-203 million, versus the consensus of $202.78 million.

For earnings history and earnings-related data on Limelight Networks (LLNW) click here.

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