LinkedIn Outperforms on Earnings, Revenue
In its inaugural earnings report, LinkedInreported quarterly profits thatbeat analysts' expectations, helped by strong product and subscription growth.
The online networking company , which went public in May, said net income was $6.9 million, or 6 cents a share.
Earnings excluding items were 12 cents a share.
Revenue doubled to $167.7 million from $81.7 million a year ago.
Analysts had expected the company to report earnings excluding items of 7 cents per share on revenue of $160 million.
This year, LinkedIn said it aims to reach adjusted earnings before interest, tax, depreciation and amortization in a range of $155 million to $165 million and revenue of $840 million to $860 million.
Average Street estimates for the full year 2012 were $828.2 million in revenue, EBITDA of $149.8 million and earnings of 57 cents per share.
Following the announcement, shares of the company rose in trading after the closing bell.Get real-time quotes for LinkedIn here.
