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LinkedIn’s forecast of slowing growth overshadows 4th-quarter results top analyst views
SAN FRANCISCO – LinkedIn finished last year with a solid financial performance, but the online professional networking service spooked investors with a forecast indicating that its growth is starting to slow down.
The projection released Thursday along with LinkedIn Corp.’s fourth-quarter results triggered a 10 per cent drop in the company’s stock price in extended trading.
The sell-off came a day after Twitter Inc., another Internet service that connects people with common interests, let down Wall Street with a slowdown in its user growth.
LinkedIn’s fourth-quarter earnings and revenue topped analyst estimates.
The Mountain View, Calif., company earned $3.8 million, or 3 cents per share. That was down 67 per cent from $11.5 million, or 10 cents per share, a year earlier.
Revenue climbed 47 per cent from the previous year to $447 million.
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