LinkedIn surprised Wall Street on Thursday, with better-than-expected first
quarter results. Shares jumped about 5% in after-hours trading.
The company reported adjusted earnings per share of 74 cents, significantly
higher than the expected 60 cents. Revenue for the quarter was $861 million,
above the anticipated $828 million and a 35% year-over-year increase.
higher than the expected 60 cents. Revenue for the quarter was $861 million,
above the anticipated $828 million and a 35% year-over-year increase.
This was a much-needed boost for LinkedIn. The company’s last earnings
report disappointed, sending the stock soaring down as much as 40%.
report disappointed, sending the stock soaring down as much as 40%.
“As a result of our new mobile experience, members are increasing their
activity on LinkedIn, helping drive strong levels of engagement across the
platform,” said CEO Jeff Weiner, in a statement.
activity on LinkedIn, helping drive strong levels of engagement across the
platform,” said CEO Jeff Weiner, in a statement.
Cumulative members increased by 19% to $433 million, seeing the most
added users since the beginning of 2014.In particular, the talent solutions
recruiter product saw revenue increase 41% year-over-year to $558 million.
Sponsored content or “marketing solutions” revenue was up 29% and
premium subscriptions brought in 22% more in sales.
added users since the beginning of 2014.In particular, the talent solutions
recruiter product saw revenue increase 41% year-over-year to $558 million.
Sponsored content or “marketing solutions” revenue was up 29% and
premium subscriptions brought in 22% more in sales.
LinkedIn are down 53% in the past year and closed Thursday at $122.94.
The company has a market cap of $16 billion.
The company has a market cap of $16 billion.
