SCOTTSDALE, Ariz. (AP) _ Limelight Networks Inc. (LLNW) on Thursday reported a loss of $13.7 million in its second quarter.
The Scottsdale, Arizona-based company said it had a loss of 11 cents per share. Losses, adjusted for stock option expense and restructuring costs, came to 6 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The network services company posted revenue of $48.3 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $53.2 million.
Limelight Networks expects full-year results to range from a loss of 15 cents per share to a loss of 5 cents per share, with revenue in the range of $220 million to $230 million.
In the final minutes of trading on Thursday, the company's shares hit $2.67. A year ago, they were trading at $6.41.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LLNW at https://www.zacks.com/ap/LLNW
Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News