Elevate your local knowledge

Sign up for the iNFOnews newsletter today!

Select Region

Selecting your primary region ensures you get the stories that matter to you first.

LinkedIn 1st-quarter net income, revenue soar but outlook falls short

CP23157743
In this May 19, 2011 photo, the LinkedIn logo is displayed in the foyer at headquarters in Mountain View, Calif. THE CANADIAN PRESS/AP, Paul Sakuma

MOUNTAIN VIEW, Calif. – LinkedIn says its first-quarter net income grew more than fourfold as revenue increased sharply, but its outlook is below Wall Street’s expectations.

Shares of the online professional networking service are down sharply in extended trading.

LinkedIn Corp. said Thursday that it earned $22.6 million, or 20 cents per share, in the January-March period. That’s up from $5 million, or 4 cents per share, in the same period a year earlier. Adjusted earnings were 45 cents.

Revenue grew 72 per cent to $324.7 million.

FactSet says analysts expected adjusted earnings of 30 cents per share on revenue of $317.6 million.

LinkedIn’s stock hit its highest level ever on Thursday. It closed above $200, more than four times where it started out in May 2011 when it went public.

News from © The Associated Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

The Associated Press

The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. More than half the world’s population sees AP journalism every day.

Related Articles