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Shares of LinkedIn plunged after the company released lowered guidance for the year. The company reported earnings per share of 57 cents on revenue of $638 million for the first quarter of 2015 on Thursday.
Analysts forecast LinkedIn would deliver earnings per share of 56 cents on $636 million in revenue in the first quarter, according to a consensus estimate from Thomson Reuters.
For the second quarter LinkedIn projected revenue of $670 million to $675 million and adjusted earnings per share of 28 cents. Analysts had on average expected earnings per share of 74 cents on revenue of $717.5 million. LinkedIn's guidance for both the topline and bottom line were weaker than even the most pessimistic of three dozen Wall Street estimates.
The company's revenue increased 35 percent from $473 million in the first quarter of 2014. Earnings per share were at 38 cents for the year-earlier period.
"Q1 was a solid quarter in which we made meaningful progress against our multi-year strategic roadmap," said Jeff Weiner, CEO of LinkedIn, in a release. "During the quarter, we maintained steady growth in member engagement while achieving strong financial results."
What is LinkedIn stock doing now? (Click here to track its stock after the bell.)
The professional networking company, which has more than 350 million members, reported that revenue from marketing solutions products increased 38 percent from the first quarter of 2014, to $119 million. Premium subscriptions increased 28 percent from the year-earlier period to $122 million. Those subscriptions represented 19 percent of total revenue in the first quarter of 2015.
Revenue from the U.S. came in at $389 million, representing 61 percent of total revenue in the first quarter. Revenue from international markets was $248 million, about 39 percent of total revenue.
The professional social network announced the pending acquisition of teaching website lynda.com earlier this month. The deal was valued at $1.5 billion in cash and stock.
Colin Gillis, of BGC Financial, attributed the weak guidance to the costs associated with the lynda.com acquisition. "They're acquiring a company that has a very different margin profile than their core business," he told CNBC's "Fast Money" Thursday.
"It's likely going to be a good long-term acquisition, but there is a near-term impact."
LinkedIn shares have jumped 10 percent higher this year.