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

Apple becomes first company worth over $700 bn
views 59
Apple became the first company to reach a market value of $700 billion Tuesday as shares vaulted amid upbeat news on the US tech giant`s gains in the ...
Here’s how to use Facebook after you die
views 60
The world’s biggest online social network has said that it will now let users pick someone who can manage their account after they die. Previously, th...
MasterCard tries out ‘selfie pay’ for online purchases
views 440
If you never felt inclined towards taking selfies, you may have to change your habit now. MasterCard is mulling to introduce a new technology that all...
Sandisk introduces a flash drive for iPhones and iPads
views 79
It’s true that nothing can beat the Apple products, except, when it comes to transferring data. How much ever you love the Apple products, you have to...
Yahoo wants to kill email passwords 
views 29
Everyone has a portfolio of passwords to remember for individual services, making it all too easy to forget– Yahoo wants to make the process easier wi...

SHARE WHAT YOU THINK