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LinkedIn posts 3rd-quarter net loss but revenue, adjusted earnings beat expectations

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FILE - In this Tuesday, May 7, 2013, file photo, people walk past LinkedIn\'s Mountain View, Calif., headquarters. LinkedIn reports quarterly earnings on Tuesday, Oct. 29, 2013. (AP Photo/Noah Berger, File)

NEW YORK, N.Y. – LinkedIn posted a loss for the third quarter but the results were stronger than expected as the professional networking service boosted its user base and increased its revenue.

LinkedIn has surpassed Wall Street’s expectations in all of its quarters as a publicly traded company and this one was no exception.

LinkedIn Corp. said Tuesday that it lost $3.4 million, or 3 cents per share, in the July-September period. It had earned $2.3 million, or 2 cents per share, in the same period a year earlier. Adjusted earnings were 39 cents per share.

Revenue rose 56 per cent to $393 million from $252 million.

Analysts, on average, had expected earnings of 32 cents per share on revenue of $384.8 million, according to FactSet.

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