This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

LinkedIn Shares Jump as Revenue Soars (Update 1)

Stocks in this article: LNKD MWW

Updated from 4:36 p.m. EST to provide comments from conference call.

NEW YORK ( TheStreet) -- LinkedIn (LNKD) shares jumped after the company posted better-than-expected first-quarter results, as revenue at its biggest unit more than doubled.

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 (MWW), grew members 58% year-over-year to 161 million users, hired 331 employees during the first quarter and will continue to add employees for the remainder of 2012, CEO Jeff Weiner said on the earnings call.

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.

Interested in more on LinkedIn? See TheStreet Ratings' report card for this stock.

Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.

-- Written by Chris Ciaccia in New York

>To follow the writer on Twitter, go to http://twitter.com/commodity_bull.

>To submit a news tip, send an email to: tips@thestreet.com

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs