LinkedIn Swings to Loss, Guides Revenue Light

NEW YORK (TheStreet) -- LinkedIn (LNKD) is slipping in post-market trading Thursday after management issued guidance short of analysts' estimates and as earnings swung to a loss over its recent quarter.

In post-market trading, shares have dropped 4% to $154.80.

In its second quarter ending June, the career-geared social network expects revenue between $500 million and $505 million, with adjusted EBITDA of $118 million to $120 million. Analysts surveyed by Thomson Reuters expected revenue slightly higher at $505.1 million and EBITDA of $120.34 million.

For the full year, revenue guidance in the range of $2.06 billion to $2.08 billion came in less than forecasts for $2.11 billion, while EBITDA of $505 million to $510 million was below an expected $514.37 million.

Over the three months to March, LinkedIn reported a net loss of $13.3 million, or 11 cents a share. The company increased spending over the quarter as it made strides expanding into China and after purchasing job search engine Bright for $120 million earlier in the year.

Excluding one-time expenses, the Mountain View, Calif.-based company earned $47.35 million, or 38 cents a share, over the three months to March. Analysts had expected earnings of 34 cents a share.

Revenue climbed 46% year over year to $473.2 million, driven by a 50% increase in sales in its recruiting solutions business and a 36% jump in advertising revenue.

"Strong first quarter financial results were driven by sustained investment, resulting in healthy member trends and balanced growth across our three diverse product lines," said CFO Steve Sordello in a statement.

--Written by Keris Alison Lahiff in New York.

Also see: LinkedIn Slips on Lowball Guidance Yet Again

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