NEW YORK ( TheStreet) -- Shares of Limelight Networks (LLNW - Get Report) were volatile in late trades on Monday after the Tempe, Ariz.-based software provider reported a wider than anticipated quarterly loss and gave a weak revenue forecast.
The company posted a non-GAAP loss of $5.9 million, or 5 cents a share, for its fiscal second quarter ended in June on revenue of $50.5 million. The average estimate of analysts polled by Thomson Reuters was for a loss of 3 cents a share in the June period on revenue of $52.4 million.
"Revenue in the quarter, however, was approximately $2 million below our forecast due to lower-than-expected campaign volume on our EyeWonder rich media advertising platform and a dip in CDN
Limelight expects revenue of between $51.7 million and $53.2 million for its fiscal third quarter ending in September, below the current consensus estimate of $57.6 million.The stock was last quoted at $3.30, unchanged from its close after falling more than 14% in Monday's regular session. Volume was above 70,000, and the shares went as low as $2.30, a drop of 30%. Wall Street was skeptical of Limelight ahead of the report. Six of the nine analysts covering the stock are at either hold (5) or underperform (1).