Limelight Networks (LLNW) Misses Q3 EPS by 3c, Slight Beat on Revenues; Lowers FY20 EPS Guidance, Maintains FY20 Revenue Outlook

Limelight Networks (NASDAQ: LLNW) reported Q3 EPS of ($0.01), $0.03 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $59.2 million versus the consensus estimate of $58.94 million.

• Record third quarter revenue of $59.2 million, up 15% year over year
• GAAP basic EPS of $(0.03) and Non-GAAP EPS of $(0.01)
• Adjusted EBITDA of $5.6 million
• Issued $125.0 million senior convertible notes due 2025

“Q3 was a very strong quarter for us on a number of fronts as we experienced our second highest quarter of revenue ever and made material progress across our strategic imperatives. Most notable in the quarter was the expansion of our edge capabilities with the launch of Edge Functions and gains in our automated traffic engineering efforts to optimize network performance and customer experience. As we have consistently done all year, we continue to make investments in the business to support our strategy of doubling down on edge innovation with focus on video, media and gaming customers. We are on track to deliver record revenue and revenue growth for 2020, along with meaningful increases across multiple financial and operational metrics. We are well-positioned to continue delivering value for our customers and growth for our shareholders.” said Robert Lento, Chief Executive Officer.

GUIDANCE:

Limelight Networks sees FY2020 EPS of ($0.02)-$0.08, versus the consensus of $0.08. Limelight Networks sees FY2020 revenue of $230-240 million, versus the consensus of $236.59 million.

• We are leaving our full-year 2020 guidance unchanged, except for the impact of the convertible debt offering interest expense on GAAP and Non-GAAP EPS. The ranges for GAAP and Non-GAAP EPS have been adjusted by $0.03 and $0.02, respectively.

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

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