Shares of Limelight Networks (NASDAQ:LLNW) gained 21.7% in April 2017, according to data from S&P Global Market Intelligence.
The bulk of Limelight's gains last month followed after the release of results for the first quarter of fiscal year 2017. The online content delivery network saw sales rising 8% year over year to land at $44.7 million while adjusted earnings swung from a small loss to a slightly larger profit. Wall Street analysts would have settled for breakeven earnings on sales near $43 million.
Limelight's management also raised full-year revenue guidance by 2% and tightened 2017's adjusted earnings targets around the upper half of the previous range.
"We have a clear strategy to deliver against aggressive targets for 2017," said Limelight CEO Bob Lento in a prepared statement. "Pricing discipline is evident in our robust gross margin improvement, and increasingly, we are winning business based on service quality and capabilities, rather than purely on pricing."
The company appears to be stealing media delivery customers from larger rival Akamai Technologies while Akamai refocuses on security and high-performance services.
More from The Motley Fool
How Limelight Networks, Inc. Stock Rose 75% in 2017
With a sharp focus on higher-quality service contracts, the content delivery expert turned a solid profit last year -- for the first time in ages.
Why Limelight Networks, Inc. Stock Fell 10% Today
The content management network operator's largest shareholder is selling a few shares. That's not as scary as it sounds.
Straight From the Source: How Limelight Networks' Turnaround Works
The company's CFO explains how his hand was forced in 2016, and that the tough choices that were made to spark a turnaround are paying off in new ways right now. "It's so much easier to fix a small mess and then grow."