Limelight Networks eyes near 1-yr high on upbeat revenue outlook

Edgio

21/01/2022 12:33

** Shares of digital content delivery firm  LLNW.O  up over
5% at $3.93 premarket
    ** Stock set to open at its highest level since Feb. 2021,
on course for fifth consecutive session of gains
    ** LLNW after market hours on Thursday forecast annual
revenue largely above expectations after topping Q4 estimates
helped by strength in its core business  urn:newsml:reuters.com:*:nPn93DzX8a
    ** Co sees FY 2022 revenue between $240 mln and $250 mln,
higher than analysts' estimates of $241.1 mln, according to
Refinitiv IBES  urn:newsml:reuters.com:*:nASA02XV1
    ** Co's Q4 revenue up 14% at $62.9 mln, above est. of $61.6
mln; reports adjusted EPS of 2 cents/shr vs. estimate of 1 cent
    ** At least two brokerages lift their PTs on LLNW, with DA
Davidson noting co's network improvements have led to "nicely
improving" gross margins 
    ** LLNW shares have gained ~9% so far this year, having shed
~14% in 2021

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))