Tags: LinkedIn | profit | shares | revenue

LinkedIn Beats Expectations, Raises Revenue Outlook

Thursday, 01 Nov 2012 05:11 PM

Professional social network LinkedIn Corp. beat Wall Street's third-quarter profit and revenue targets on Thursday and raised its full-year revenue forecast.

Shares of LinkedIn were up 7.6 percent at $115 in after-hours trading.

LinkedIn said it posted net income of $2.3 million, or 2 cents a share, during the three months ended Sept. 30, compared with a net loss of $1.6 million, or 2 cents a share, in the year-ago period.

Editor's Note: You Owe It to Yourself to Know What Obama and Bernanke Are Hiding From Americans

Excluding certain items, LinkedIn said it earned 22 cents a share in the third quarter, above the 11 cents expected by analysts polled by Thomson Reuters I/B/E/S.

Revenue in the third quarter was $252 million, up 81 percent year-over-year and ahead of the average analyst expectation of $244.2 million.

LinkedIn said it now expects total revenue for 2012 to range between $939 million and $944 million, compared with its prior range of $915 million to $925 million.

LinkedIn, which has 175 million members, connects professionals seeking jobs and companies looking for employees. The company makes money from selling ads and premium subscriptions, as well as from offering specialized services to recruiters, setting it apart from its ad-dependent social networking rivals such as Facebook Inc and Twitter.

The Mountain View, California-based company said that revenue from its job-recruiter services increased 95 percent year-on-year in the third quarter, while advertising revenue increased 60 percent.

LinkedIn also said that traffic to its homepage increased 60 percent since a website redesign that it rolled out during the third quarter.

Shares of LinkedIn, which closed Thursday's regular session at $106.85, have fallen 15 percent since mid-September but are up roughly 70 percent in 2012.

Editor's Note: You Owe It to Yourself to Know What Obama and Bernanke Are Hiding From Americans

© 2017 Thomson/Reuters. All rights reserved.

 
1Like our page
2Share
Companies
Professional social network LinkedIn Corp.beat Wall Street's third-quarter profit and revenue targets on Thursday and raised its full-year revenue forecast.
LinkedIn,profit,shares,revenue
304
2012-11-01
Thursday, 01 Nov 2012 05:11 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved