LinkedIn Earnings Beat; Outlook Falls Short
LinkedIn beat on both earnings and revenue but the stock fell sharply after-hours as the social-networking site's outlook fell short.
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The company said net income for the first quarter rose to $22.6 million, or 20 cents a share, from $5 million, or 4 cents a share, in the year-earlier period.
Excluding items, earnings jumped to 45 cents a share from 15 cents a share a year ago.
Revenue shot up 72 percent to $324.7 million from $188.5 million.
Analysts had expected the social-networking site to report earnings of 31 cents a share on $317 million in revenue, according to a consensus estimate from Thomson Reuters.
For the second quarter, LinkedIn said it expects revenue between $342 million to $347 million, short of the $359 million analysts expect.
For the full year, the company expects revenue of between $1.43 billion and $1.46 billion — analysts currently expect $1.5 billion.
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