This Day On The Street
Continue to site
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

LinkedIn Shares Slump on First Loss

MOUNTAIN VIEW, Calif. ( TheStreet) -- LinkedIn (LNKD - Get Report) posted its second quarterly results as a public company after market close on Thursday, registering its first loss despite surging revenue.

LinkedIn CEO Jeff Weiner

The professional networking site racked up third-quarter revenue of $139.5 million, a massive hike from $61.8 million in the same period last year. Analysts surveyed by Thomson Reuters were looking for sales of $127.61 million.

On a GAAP basis, LinkedIn registered a loss of 2 cents a share on a net loss of $1.6 million, compared to net income of $4 million in the same period last year. Analysts were looking for a loss of 4 cents a share.

Excluding items, LinkedIn earned 6 cents a share on net income of $6.6. million, up from net income of $6 million in the prior year's quarter.

Investors, however, were unimpressed by LinkedIn's numbers, pushing the company's shares down $9.33, or 10.66%, to $78.17 in extended trading.

Undeterred, LinkedIn CEO Jeff Weiner lauded the company's achievements.

"LinkedIn had a strong third quarter, with significant, broad-based growth across all of our revenue streams, member engagement metrics, geographies, and sales channels," he said, in a statement released after market close. "Our results underscore the long-term strength of our global platform and our business model."

Proving that the company can exploit a tough economy, LinkedIn's membership grew to 131.2 million people during the third quarter, a 63% year-over-year increase.

The Mountain View, Calif.-based firm also offered robust fourth-quarter guidance, predicting revenue between $154 million and $158 million, well above analysts' forecast of $147.94 million.

-- Written by James Rogers in New York

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

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
LNKD $202.53 -0.44%
AAPL $126.74 -1.50%
FB $77.65 -1.50%
GOOG $533.94 -1.30%
TSLA $232.33 0.79%

Markets

DOW 18,000.30 -70.10 -0.39%
S&P 500 2,098.97 -15.52 -0.73%
NASDAQ 4,957.1380 -59.7910 -1.19%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs