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TheStreet Open House

LinkedIn's Fourth Quarter Earnings Soar (Update 1)

Updated from 4:29 p.m. EST with executive comments from the conference call.

NEW YORK (TheStreet) - LinkedIn (LNKD) shares are soaring in after-hours trading, after the social networking company reported better than expected results.

LinkedIn reported fourth-quarter earnings of 12 cents per share on $167.7 million in revenue. Wall Street analysts polled by Thomson Reuters expected the company to bring in revenue of $159.7 million and earnings of 7 cents per share.

The company's Hiring Solutions division, which generates revenue from job seekers, came in at $84.9 million, an increase of 136% year-over-year. On the conference call, the company said 80% of the Fortune 100 use LinkedIn for recruitment.

LinkedIn competes with Monster Worldwide (MWW) and DICE HOLDINGS (DHX) in the professional services sector. LinkedIn has shown to be a disruptive force in the job-seeking industry, as it takes away market share from its competitors.

On the company conference call, LinkedIn said its platform has a number of software-as-a-service (SaaS)-like features, and the company is leveraging its user data to continue to drive revenue and monetization.

They also noted that mobile has been very accretive to the company as a network, due primarily to the increase in connection density, or the number of users that are connected to other users. Apple's (MWW) iOS is seeing faster adoption than Google's (MWW) Android, it said, but both are still seeing healthy rates of growth.

LinkedIn also gave first-quarter and full year 2012 revenue guidance. The company said it expects first-quarter revenue to be between $170 million and $175 million. LinkedIn expects 2012 revenue to be between $840 million and $860 million. Wall Street was expecting full year revenue of $827 million.

"Q4 once again exceeded our expectations for member engagement and business growth," explained Jeff Weiner, LinkedIn's CEO, in a statement. "It was a fitting end to a memorable year in which we reinforced our position as the pre-eminent professional network on the web."

LinkedIn shares closed the regular session down 0.25% to $76.35. Shares are moving sharply higher in extended-hours, up 8.1% to $82.60, according to Nasdaq.com.

LinkedIn shares have outperformed the broader market this year, up 21.2%, versus 7.5% for the S&P 500.

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

Check out our new tech blog, Tech Trends.

--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

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