Exhibit 99.1

November 1, 2012

Limelight Networks(R) Reports Third Quarter 2012 Results

TEMPE, Ariz., November 1, 2012 (GLOBE NEWSWIRE) — Limelight Networks, Inc. (Nasdaq: LLNW) (“Limelight”), a global leader in Digital Presence Management, announced today third quarter 2012 financial results.

“The impact of the digital world grows with each passing day, placing stewardship of an organization’s Digital Presence squarely in the Executive-Suite,” said Jeff Lunsford, chairman and chief executive officer. “Today, by the time a person speaks with a salesperson, orders a product, visits a store, or casts a vote, they have already formed their opinion based on experiences in the digital realm. Therefore, organizations must actively manage their Digital Presence across all types of online channels, including web, mobile, social, living room, and all other digitally delivered points of customer interaction.

In response to these trends, Limelight has developed Orchestrate, the industry’s first integrated Digital Presence platform. We are unique in our approach to solving this critical problem, and we are seeing strong traction in the Digital Presence Management marketplace.”

Highlights for Limelight’s third quarter included:

Financial Highlights

For the third quarter of 2012, the Company reported revenue of $45.0 million from continuing operations, adjusted EBITDA of $2.8 million and non-GAAP net loss, before share-based compensation, litigation expenses, amortization of intangible assets, acquisition-related expenses, gain on sale of cost basis investment and discontinued operations of $5.5 million or 5 cents per basic share. GAAP net loss from continuing operations was $0.6 million, or 1 cent per basic share.

The Company ended the quarter with no bank debt and approximately $130 million in cash and cash equivalents and short-term marketable securities.

Stock Buyback Program

During the third quarter, the Company repurchased approximately $3.2 million of common stock under the $15 million share repurchase plan that the Board authorized on May 2, 2012 and our second stock repurchase program is now complete. In addition, on October 29, 2012, our Board of Directors authorized a new $10 million share repurchase program.

CEO Succession

Limelight further announced a search for a new CEO to succeed Jeff Lunsford, who will leave the day-to-day CEO role to pursue private business interests in mid-January, 2013, but will remain active and involved as a member of Limelight’s Board of Directors.

Q4 2012 Outlook

The Company anticipates fourth quarter revenue to be in the range of $45.5-$46.5 million.

Financial Tables

LIMELIGHT NETWORKS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except per share data)

LIMELIGHT NETWORKS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(Unaudited)

LIMELIGHT NETWORKS, INC.

SUPPLEMENTAL FINANCIAL DATA

(In thousands)

(Unaudited)

LIMELIGHT NETWORKS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

Use of Non-GAAP Financial Measures

To evaluate our business, we consider and use Non-GAAP net income (loss) and Adjusted EBITDA as a supplemental measure of operating performance. These measures include the same adjustments that management takes into account when it reviews and assesses operating performance on a period-to-period basis. We consider Non-GAAP net income (loss) to be an important indicator of overall business performance because it allows us to illustrate the impact of the effects of share-based compensation, litigation expenses, amortization of intangibles, acquisition related expenses, gain on sale of cost basis investment and discontinued operations. We define EBITDA as GAAP net income (loss) before interest income, interest expense, gain on sale of cost basis investment, other income and expense, provision for income taxes, depreciation and amortization, and discontinued operations. We believe that EBITDA provides a useful metric to investors to compare us with other companies within our industry and across industries. We define Adjusted EBITDA as EBITDA adjusted for operational expenses that we do not consider reflective of our ongoing operations. We use Adjusted EBITDA as a supplemental measure to review and assess operating performance. We also believe use of Adjusted EBITDA facilitates investors’ use of operating performance comparisons from period to period. In addition, it should be noted that our performance-based executive officer bonus structure is tied closely to our performance as measured in part by certain non-GAAP financial measures.

The terms Non-GAAP net income (loss), EBITDA and Adjusted EBITDA are not defined under United States generally accepted accounting principles, or United States GAAP, and are not measures of operating income, operating performance or liquidity presented in accordance with United States GAAP. Our Non-GAAP net income (loss), EBITDA and Adjusted EBITDA have limitations as analytical tools, and when assessing our operating performance, Non-GAAP net income (loss), EBITDA and Adjusted EBITDA should not be considered in isolation, or as a substitute for net income (loss) or other consolidated income statement data prepared in accordance with United States GAAP. Some of these limitations include, but are not limited to:

We compensate for these limitations by relying primarily on our GAAP results and using Non-GAAP net income (loss) and Adjusted EBITDA only as supplemental support for management’s analysis of business performance. Non-GAAP net income (loss), EBITDA and Adjusted EBITDA are calculated as follows for the periods presented in thousands:

Reconciliation of Non-GAAP Financial Measures

In accordance with the requirements of Regulation G issued by the Securities and Exchange Commission, the Company is presenting the most directly comparable GAAP financial measures and reconciling the non-GAAP financial metrics to the comparable GAAP measures.

LIMELIGHT NETWORKS, INC.

Reconciliation of GAAP Net Income (Loss) to Non-GAAP Net Income (Loss)

(In thousands)

(Unaudited)

LIMELIGHT NETWORKS, INC.

Reconciliation of GAAP Net Income (Loss) to EBITDA to Adjusted EBITDA

(In thousands)

(Unaudited)