NEW YORK -- LinkedIn (LNKD), the career Web site, forecast on Thursday second-quarter sales and earnings below analysts' estimates.
The Mountain View, Calif-based Internet company said it expects to post earnings before interest, depreciation and amortization of $77 million to $79 million, short of the estimates of $84.8 million. Sales were also less than expected, as the company forecast revenue for the current quarter between $342 million and $347 million, short of an average estimate of $359.7 million.
For the first quarter, LinkedIn sales rose 72% to $324.7 million, beating an average forecast of $318.2 million as adjusted net income reached $52.4 million, also topping analysts' average forecasts of $36.5 million.
Insurance giant American International Group (AIG) said Thursday first-quarter net income was $2.2 billion, or $1.49 a share, down 31% from year-earlier earnings of $3.2 billion, or $1.71 a share. The 2012 results included $3.3 billion in pretax income from investments in funds that were sold or liquidated last year. Analysts were expecting earnings of 88 cents a share. AIG's after-tax operating income, which excludes the impact of certain investments and hedging activities, rose 28% in the first quarter to $3.02 billion.
Kraft Foods' (KRFT) first-quarter earnings topped Wall Street expectations. The company earned $456 million, or 76 cents a share, down from $483 million, or 82 cents a share, a year earlier. Revenue rose 2% to $4.55 billion. Wall Street was expecting earnings of 63 cents a share on revenue of $4.49 billion.
Barnes & Noble (BKS) said Friday it is adding Google's (GOOG) Play app store to its 7-inch Nook HD and 9-inch HD+ products in the U.S. and U.K., a move that greatly expands the number of apps available from the Nook tablets. 3 Big Tech Stocks to Trade (or Not)
Madison Square Garden (MSG) is forecast by analysts to report on Friday fiscal third-quarter earnings of 32 cents a share on revenue of $406 million.
Duke Energy (DUK) is predicted to post first-quarter profit of $1.04 a share on revenue of $5.69 billion. 5 Huge Stocks to Trade in May
-- Written by Joseph Woelfel
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