LinkedIn reported adjusted earnings of 51 cents a share on revenue of $533.9 million, which beat the consensus estimate of 39 cents a share on revenue of $510.98 million. Revenue rose 47% year-over-year.
The company also issued third-quarter revenue guidance in the range of $543 million to $547 million, greater than analysts' expectations of $540.86 million. LinkedIn also increased its full-year revenue guidance to a range of $2.14 billion to $2.15 billion, up from a range of $2.06 billion to $2.08 billion. Analysts expect full-year revenue of $2.13 billion.
The stock was up9.33% to $197.50 at 4:36 p.m.
Separately, TheStreet Ratings team rates LINKEDIN CORP as a "sell" with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate LINKEDIN CORP (LNKD) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself."
You can view the full analysis from the report here: LNKD Ratings Report