LinkedIn Corp Earnings: Beats the Street on Profit Rise
LinkedIn Corporation (NYSE:LNKD) reported net income above Wall Street’s expectations for the fourth quarter. LinkedIn is a professional network on the Internet with more than 90 million members in over 200 countries and territories.
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LinkedIn Earnings Cheat Sheet for the Fourth Quarter
Results: Net income for LinkedIn Corporation rose to $6.9 million (6 cents per share) vs. $5.3 million (3 cents per share) in the same quarter a year earlier. This marks a rise of 30.1% from the year earlier quarter.
Revenue: Rose more than twofold to $167.7 million from the year earlier quarter.
Actual vs. Wall St. Expectations: LinkedIn Corporation reported adjusted net income of 12 cents per share. By that measure, the company beat the mean analyst estimate of a loss of one cent per share. It beat the average revenue estimate of $159.7 million.
Quoting Management: “Q4 once again exceeded our expectations for member engagement and business growth. It was a fitting end to a memorable year in which we reinforced our position as the pre-eminent professional network on the web,” said Jeff Weiner, CEO of LinkedIn.
The company has now topped analyst estimates for the last three quarters. It beat the mark by 3 cents in the third quarter and by 9 cents in the second quarter.
Looking Forward: Next quarter’s results are expected to be more favorable for the company. Over the past sixty days, the average estimate for the first quarter of the next fiscal year has reached 3 cents per share, up from one cent. At 4 cents per share, the average estimate for the fiscal year has risen from 2 cents sixty days ago.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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