This Day On The Street
Continue to site
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 Jump as Revenue Soars (Update 1)

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

NEW YORK ( TheStreet) -- LinkedIn (LNKD - Get Report) 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 - Get Report), 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

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

>To submit a news tip, send an email to:

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
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
LNKD $122.05 -0.86%
MWW $2.80 1.60%
AAPL $92.66 -0.62%
FB $119.15 1.10%
GOOG $708.79 1.00%


Chart of I:DJI
DOW 17,738.13 +77.42 0.44%
S&P 500 2,056.00 +5.37 0.26%
NASDAQ 4,727.5360 +10.4420 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs