LinkedIn's Growth Stays Strong, But Stock Zigzags On Outlook
Linkedin CEO Jeff Weiner (Credit: AFP/Getty Images via @daylife)LinkedIn shares climbed about 1% in after-hours trading today, following the company's release of third quarter earnings. The social media company reported a 56% increase in revenue, to early $393 million, slightly ahead of the 53% rise that analysts had expected. LinkedIn's earnings also topped expectations.
Analysts had expected LinkedIn to post adjusted earnings of 31 cents a share, up from 22 cents a year earlier, according to S&P Capital IQ. LinkedIn's actual earnings on a diluted basis, with so-called non-GAAP adjustments, totaled 39 cents a share. Analysts had expected 31 cents. LinkedIn's results, when calculated in alignment with generally accepted accounting principles , showed a net loss of $3.4 million.
'Increased member growth and engagement helped drive strong financial results in the third quarter,' said Jeff Weiner, CEO of LinkedIn. 'We continue to deliver value to professionals through investment in core products and strategic initiatives such as mobile, students, and the professional publishing platform.'
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