Limelight Networks Issues FY17 Guidance In Line With Street Expectations

Shares of Limelight Networks set a 16-month high after the company issued full year 2017 guidance that was in line with Street expectations.

The company is projecting 2017 total revenue between $175 million to $180 million versus the estimate of $178 million from analysts polled by Capital IQ.

Non-GAAP earnings of $0.02 to $0.06 per share, in line with the $0.04 average estimate.

Additionally, the company predicts GAAP gross margin improvement of over 150 basis points, adjusted EBITDA between $22 million and $27 million, and capital expenditures of approximately $20 million. LLNW last traded at $2.75 with a new 52-week range of $0.90 to $2.85.

By BDL Contributor