LinkedIn reports loss despite 46% jump in revenue

LinkedIn reports loss despite 46% jump in revenue

LinkedIn posted quarterly results on Thursday that, at least temporarily, deepened investor angst over social-media stocks. The world’s largest social network for professionals, which is an indispensable tool for recruiters, reported a 46% rise in first-quarter revenue, to $473.2 million, but a loss of $13.3 million. The news sent LinkedIn shares down 2% in after-hours trading, to $159.02.

LinkedIn pinned the loss to expansion in China and its acquisition of Bright in the first quarter. Excluding certain expenses, the company said it would have earned 38 cents per share — down from 45 cents in the same quarter a year ago. Analysts polled by Thomson Reuters expected $466.6 million in revenue and earnings of 34 cents per share.
Two divisions — LinkedIn’s recruiting business ($275.9 million) and its advertising operations ($101.8 million) — made up the lion’s share of revenue. For the year, LinkedIn raised its revenue projections to $2.06 billion to $2.08 billion, besting its previous estimated range of $2.02 billion to $2.05 billion.

Related Post

HTC One M10 leaked picture
views 97
We can now take a look at what appears to be the very first image of HTC's next-gen flagship smartphone. Posted today on Twitter by @evleaks, said ima...
HTC 10 Revealed: Here’s all you need to know (Pictures)
views 34
The new HTC 10 will launch today at 5.30 pm IST online. However a leaked video has revealed what the phone looks like. HTC 10, the new flagship from ...
‘Grand Theft Auto V’ is coming to PlayStation 4, Xbox One and P...
views 88
If you've long suspected that Grand Theft Auto V would reach next-gen consoles and the PC, you were on the mark -- Sony and Rockstar have confirmed th...
Outlook.com now lets you create extra-specific email rules
views 41
If you're an email power user, you frequently know what to do with messages as soon as they hit your inbox -- even if it's just to avoid dealing with ...
iPhone 7 leaks in all four colors
views 78
The iPhone 7 leaked yet again on Thursday, this time in a photo showing the Apple smartphone in four different color options. The leak doesn’t reveal ...

SHARE WHAT YOU THINK