Limelight Reports, Extends CDN Sector’s Growth Story

November 5th, 2010 by · Leave a Comment

Limelight Networks (NASDAQ:LLNW, news, filings) added to the evidence of a growing CDN pie with its third quarter results.  Revenues of $49.8M were very strong, above its own guidance of $46.5-48.5M and ahead of analyst expectations of $47.8.  For the fourth quarter, they expect revenues of $51.5-53.5M which is roughly inline with expectations, though perhaps slightly lower at the midpoint.

EBITDA rose to $7.1M, and the company achieved break even non-GAAP earnings – a penny ahead of expectations.  Now, the company’s stock price has been up a lot in the past three months, and as strong as these results are the market may have been hoping for higher projections.  C’est la vie.

So Akamai, Level 3, and Limelight all reported excellent forward progress this quarter in the CDN marketplace.  I’ll bet CDNetworks, Edgecast, and others didn’t have bad quarters either.

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