16°c A few clouds
Winnipeg Free Press - PRINT EDITION
LinkedIn income falls; revenue growing fast
NEW YORK -- LinkedIn's net income fell in the latest quarter as the professional networking site spent more money to grow its business. But revenue grew more quickly than expected, and the company raised its forecast for the year.
LinkedIn's stock increased after the results came out Thursday, a reprieve after tepid news from other newly public Internet companies -- namely Facebook and Zynga. LinkedIn, which went public more than a year ago, is among the best-performing stocks of the bunch.
LinkedIn Corp. earned $2.8 million, or three cents per share, in the second quarter. That's down 38 per cent from $4.5 million, or four cents per share, a year earlier.
Adjusted earnings, which exclude stock-compensation expenses and other items, were $18.1 million, or 16 cents per share, matching analysts' expectations. Last year, LinkedIn had adjusted earnings of $10.8 million, or 10 cents per share.
Revenue increased 89 per cent to $228 million, from $121 million. Analysts had expected lower revenue of $216 million, according to FactSet.
LinkedIn gets more than two-thirds of its revenue from fees it charges companies, recruiting services and other people who want broader access to the profiles and other data on its site. The rest comes from advertising.
Marketing, development and other expenses increased 93 per cent to $215 million, from $111 million.
LinkedIn expects revenue of $235 million to $240 million for the current quarter. Analysts had expected $236 million.
The company raised its full-year guidance. It now expects revenue of $915 million to $925 million, up from the prior range of $880 million to $900 million. Analysts had expected $907 million.
LinkedIn's stock climbed $3.84, or 4.1 per cent, to $97.35 in after-hours trading. The stock had closed down $2.13, or 2.2 per cent, to $93.51.
-- The Associated Press
Republished from the Winnipeg Free Press print edition August 3, 2012 B11
More Business
- Back to Top
- Return to Business
More Business
(1 of 50 articles for today)
Business Highlights
4:37 PM 0___
Why worry? Less aid by Fed would point to recovery
WASHINGTON (AP) — Investors have grown nervous that the Federal Reserve ...
Poll
Most Popular Business
- New owner for lumber stores
- Skyline-altering project will happen: developer
- New downtown tower could be 42 storeys tall: developers
- The Galapagos to be just a click away: Google photographs famous islands for Street View
- She's got entrepreneurial spirit
- Ottawa threatens 'retaliatory measures' over new U.S. meat labelling regulations
- Hobby Lobby appeal tests limits of federal birth-control coverage mandate
- Wealth survey indicates average person has $6.6K
- Creative industries can fuel a city's economic engine
- Housing slowdown to worsen, cost 150,000 jobs, says mortgage group
- New owner for lumber stores
- Mounties say crooks passing fake polymer bank notes in British Columbia
- 2 men arrested in killing of Las Vegas teen who refused to give up his iPad
- New downtown tower could be 42 storeys tall: developers
- Creative industries can fuel a city's economic engine
- Microsoft reveals Xbox One as all-in-1 entertainment console, last of 3 major systems unveiled
- Skyline-altering project will happen: developer
- Housing slowdown to worsen, cost 150,000 jobs, says mortgage group
- Bridging the gap
- Apple uses companies outside US to avoid paying billions in taxes, Senate inquiry finds
- Target opens its first Manitoba stores Tuesday
- New structure to be king of downtown?
- Transcona transformation
- Target opens Manitoba stores
- New owner for lumber stores
- Mounties say crooks passing fake polymer bank notes in British Columbia
- City to get a touch of glass
- Canad Inns property has personal meaning for owner
- Holiday pump jump debated
- Local boy leads Great-West
- New owner for lumber stores
- Skyline-altering project will happen: developer
- US new home sales rise 2.3 per cent in April while median home prices hit record high
- Bell invests in 'TV everywhere'
- Bridgwater site to resemble Osborne Village
- Transcona transformation
- PotashCorp cites confidence in cash flow, increases quarterly dividend 25%
- Bridging the gap
- Housing slowdown to worsen, cost 150,000 jobs, says mortgage group
- New downtown tower could be 42 storeys tall: developers
- New owner for lumber stores
- Ex-'Pegger seeks to grow local businesses
- Bridging the gap
- Developers to unveil plans for bold downtown tower
- Skyline-altering project will happen: developer
- There are lots of I's in 'team'
- More than a new boss
- New downtown tower could be 42 storeys tall: developers
- Viterra plans $20 million capacity upgrade at four Saskatchewan grain terminals
- Creative industries can fuel a city's economic engine
- New owner for lumber stores
- Transcona transformation
- New structure to be king of downtown?
- CEO, execs terminated at TCIG
- Target opens its first Manitoba stores Tuesday
- Canad Inns property has personal meaning for owner
- Winnipeg's got the REIT stuff
- Older and jobless? Resource on hand
- Local boy leads Great-West
- Ex-'Pegger seeks to grow local businesses
Ads by Google
You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.
Have Your Say
New to commenting? Check out our Frequently Asked Questions.
The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.