LinkedIn earnings story updated from 4:16 p.m. with CEO comment from the company's earnings conference call.
- LinkedIn (LNKD - Get Report), the newly-public social network for professionals, reported adjusted earnings per share of 10 cents on sales of $121 million for the second quarter.
- Analysts expected a loss of 3 cents a share on sales of $104.7 million.
- LinkedIn, whose shares were up about 12% since going public in May, saw its stock close down 9.6% at $95.52 Thursday amid the broader market selloff. After earnings, its shares were jumping more than 4% in the post-market session.
- This marks the first earnings report for the company since its NYSE debut. In 2010, LinkedIn said it generated earnings of $19.4 million and revenues of $243 million.
NEW YORK ( TheStreet) -- LinkedIn (LNKD - Get Report), the first major barometer of investors' social media appetite, handily beat Wall Street's second-quarter estimates in its first earnings report since going public in May.
The business-minded Web site, which recently became the second-largest social network behind Facebook, said its member base had grown to nearly 116 million, an increase of 61% from the year-ago quarter."In the second quarter, we saw record levels of members, unique visitors and page views, while revenue growth further accelerated," CEO Jeff Weiner said in a prepared statement.
|LinkedIn went public in May.|
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