Limelight Networks (Nasdaq: LLNW), the content delivery network focusing on video, has reported its first public results after its IPO in June…for Q2, it reported losses of $10.5 million, versus a prior-year profit of $1.72 million. Revenues rose 43 percent to $21.2 million from $14.8 million. But the guidance has disappointed Street: it expects earnings in Q3 and year to fall short of Wall Street estimates, after the decline in its Q2 net income. Revenues for Q3 are pegged in a range of $25.5 million to $28 million, depending on whether a five-year contract is included.

Meanwhile, the shares have been hammered today following the results…they were down 36 percent and trading at $9.50 in afternoon trading on Nasdaq. Release | Webcast.

TechConfidential: Limelight’s travails show how fickle the market is these days even for solid tech vendors. The company, along with chief rival Akamai, is a leader in helping enterprises organize and manage digital material. Trouble is, lots of their customers are still losing server-closets full of money on this content. Limelight’s stock swoon also illustrates, as ever, the dark side of pre-IPO hype.

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