Thursday
April
17
2014
3:12 am
Weather
  Home
  Local News
  State / National / World
  Sports
  Opinion / Letters
  Business
  Arts / Entertainment
  Lifestyle
  Obituaries
  Calendar
  Submit Event
  Comics / Games
  Classifieds
  DJ Designers
  Archives
  Advertise With Us
  About Us
 
 
 
 

Check out our archive of Dining Guides - Yum!

LinkedIn posts 3Q net loss but revenue grows
October 30, 2013, 05:00 AM By Barbara Ortutay The Associated

NEW YORK — LinkedIn Corp. posted a loss for the third quarter on Tuesday, but the results were stronger than Wall Street expected as the professional networking service boosted its user base and increased revenue.

Such results have become routine for LinkedIn. The company has surpassed analysts’ expectations in each of its 10 quarters as a publicly traded company. Its outlook for the current quarter, however, was below estimates and its stock fell in extended trading after the results were released.

LinkedIn lost $3.4 million, or 3 cents per share, in the July-September period compared with earnings of $2.3 million, or 2 cents per share, in the same period a year ago. Adjusted earnings were $46.8 million, or 39 cents per share, in the latest quarter, which beat analysts’ expectations by 7 cents.

Revenue rose 56 percent, to $393 million from $252 million. Analysts predicted $384.8 million, according to FactSet.

For the current quarter, LinkedIn forecast a revenue range of $415 million to $420 million, which is below Wall Street’s expectations of $438.9 million. LinkedIn typically lowballs its forecasts.

The company raised its full-year revenue guidance for 2013 to about $1.5 billion, still slightly below analysts’ estimates of $1.51 billion.

LinkedIn’s membership grew 38 percent from a year earlier, to 259 million users. The company said its members used the site at record levels on desktop computers and mobile devices.

Advertising accounted for 23 percent of the quarter’s revenue, totaling $88.5 million. That’s up 38 percent from a year earlier. The remainder of the revenue came from subscriptions and fees LinkedIn charges to employers, headhunters and job seekers for special access to its member’s profiles and other data.

Shares of the Mountain View, Calif.-based company fell $7.21, or 2.9 percent, to $239.93 in after-hours trading. The stock had closed Tuesday’s regular trading session up $4.14, or 1.7 percent, at $247.14.

LinkedIn has seen its stock soar 449% since it went public in two years ago at $45 per share. In comparison, Facebook closed at $49.40 on Tuesday, up 30 percent from its $38 IPO price.

 

 

Tags: million, linkedin, percent, revenue, company, quarter,


Other stories you might enjoy:

Sears considering spinning off Lands’ End
LinkedIn posts 3Q net loss but revenue grows
Google Plus adds more tools to edit photos, video
 

 
Print this Page Print this Page  |  Bookmark and Share
<< Back
 
Return To Archives
 
  


 
 
 
Daily Journal Quick Poll
 
How confident are you about the state of the U.S. economy?

Extremely confident
Confident
Somewhat confident
Not confident at all

 

 
 
 
 
 
 
Governor calls special session on rainy day fund
SACRAMENTO — Saying the state’s budget surplus should be used to pay down debt, Gov. Jerry Brown..
Ex-California city leader gets 12 years in prison
LOS ANGELES — The former city manager of Bell, Calif., has been ordered to make restitution of $8...
Combat vehicles in east Ukraine fly Russian flag
SLOVYANSK, Ukraine — A column of armored vehicles flying Russian flags drove into a Ukrainian city..
283 missing, 4 dead in South Korea ferry disaster
MOKPO, South Korea — A ferry carrying 462 people, mostly high school students on an overnight trip..
E.L. Doctorow to receive Library of Congress Prize
NEW YORK — Novelist E.L. Doctorow will be honored with the Library of Congress Prize for American ..
More >>  
 
 
  
 
  
 
©2014 San Mateo Daily Journal
Woodside newspaper