LinkedIn Shares Jump as Revenue Soars (Update 1)
NEW YORK (TheStreet) -- LinkedIn
Mountain View, Calif.-based LinkedIn reported earnings of 15 cents per share on $188.50 million in revenue for the March-ended period.
Analysts polled by Thomson Reuters were expecting earnings of 9 cents per share on $178.58 million in revenue. Sales at Hiring Solutions, its biggest segment, soared 121% to $102.6 million. It accounted for 54% of revenue, up from 49% a year earlier. On the conference call, LinkedIn said this was the seventh straight quarter with revenues doubling.
LinkedIn, which competes with Monster Worldwide
The social network also gave greater-than-expected second-quarter revenue guidance, and raised its full-year outlook. The social-networking company expects second-quarter revenue to be between $210 million and $215 million.
Analysts polled by Thomson Reuters were looking for second-quarter guidance of 15 cents per share on $207.93 million in revenue.
Full-year revenue guidance was raised from a previous range of $840 million to $860 million to $880 million to $900 million.
LinkedIn also announced it is acquiring SlideShare for $118.75 million in cash and stock. The acquisition is expected to close during the second quarter of 2012.
Shares of LinkedIn finished the session higher, up 2.8% to close at $109.41. The shares extended that gain in after-hours trading, rising 7.57% to $117.69, according to Nasdaq.com.
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--Written by Chris Ciaccia in New York
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