LinkedIn Earnings: Profits Up, Revs Jump, Shares Pop
LinkedIn Corporation (NYSE:LNKD) reported net income above Wall Street’s expectations for the first 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 First Quarter
Results: Net income for LinkedIn Corporation rose to $5 million (4 cents per share) vs. $2.1 million (0 cents per share) in the same quarter a year earlier. This is a more than twofold rise from the year-earlier quarter.
Revenue: Rose more than twofold to $188.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: LinkedIn Corporation reported adjusted net income of 15 cents per share. By that measure, the company beat the mean estimate of 2 cents per share.
Quoting Management: “LinkedIn’s solid performance in the first quarter built on the company’s momentum in 2011,” said Jeff Weiner, CEO of LinkedIn. “We saw strength across all key metrics from member signups and engagement to significant revenue growth across our three product lines.”
The company has now topped analyst estimates for the last four quarters. It beat the mark by 7 cents in the fourth quarter of the last fiscal year, by 3 cents in the third quarter of the last fiscal year, and by 9 cents in the second quarter of the last fiscal year.
Looking Forward: Expectations for the company’s next-quarter performance are more favorable than they were a month ago. The average estimate for the second quarter is now at 5 cents per share, up from 5 cents. The average estimate for the fiscal year has seen a bump from 22 cents per share sixty days ago to 24 cents.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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