Limelight beats analyst expectation for Q1 earnings

Tempe-based Limelight Networks (Nasdaq:LLNW) posted a first-quarter loss of $5.8 million, and a non-GAAP loss of 1 cent per share, way off last year's litigation-fattened quarter but ahead of analyst expectations; revenue was $36 million, up 9 percent from $33 million in the like quarter a year ago. Wall Street had expected the company to post revenues of $34 million and a loss of 9 cents per share.

The content distribution network, which last week closed on its deal to buy ad-serving vendor EyeWonder, ended the quarter with no bank debt and $149 million in cash and short-term market securities, and forecast second quarter revenues at $41 million to $43 million, including revenues from EyeWonder, far ahead of Wall Street's expected $34.9 million Q2 projection.

Limelight's good news wasn't limited to its earnings, though, as it also reported that the U.S. Court of Appeals had reaffirmed a lower court's ruling in favor of Limelight in its patent suit with Level 3.

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