Reuters: Global Markets: LinkedIn revises upward outlook, beats on profit

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LinkedIn revises upward outlook, beats on profit May 3rd 2012, 20:50 Tweet Share this Email Print Related News Tax & accounting sales drive Thomson Reuters profit Tue, May 1 2012 Starbucks profit up, but Europe is a challenge Thu, Apr 26 2012 Facebook reveals revenue, profit slide ahead of IPO Mon, Apr 23 2012 At NY Times, profit rises, CEO search drags on Thu, Apr 19 2012 Facebook to buy Instagram for $1 billion Tue, Apr 10 2012 Analysis & Opinion Facebook's defensive Instagram M&A raises red flag Related Topics Tech » Hot Stocks » Asian Markets » The sign up page of Linkedin.com is seen in Singapore, May 20, 2011. Credit: Reuters/David Loh Thu May 3, 2012 4:50pm EDT (Reuters) - LinkedIn Corp reported better-than-expected revenue and profit after it racked up strong growth from its services that help companies find and hire employees and it revised upward its 2012 outlook. The professional networking site also announced on Thursday that it acquired content sharing company SlideShare for $118.75 million in a mix of cash and stock. First quarter revenue at LinkedIn rose 101 percent to $188.5 million, besting analysts' average forecast of $178.58 million, according to Thomson Reuters I/B/E/S. Shares of LinkedIn were up 9 percent in after-hours trading to $120.50 from their $109.41 close in regular trading. The Mountain View, California-based company was one of the first prominent U.S. social networking sites to make its debut in an initial public offering a year ago, whetting the appetites of those eagerly awaiting Facebook's impending IPO. The company revised its 2012 outlook, expecting revenue in the range of $880 million to $900 million from a prior range of $840 million to $860 million. Excluding special items, its first-quarter earnings per share of 15 cents was well above analysts' expectations of 9 cents per share. Net income rose to $5 million from $2.1 million in the same quarter a year ago. (Reporting by Jennifer Saba; Editing by Bernard Orr and Tim Dobbyn) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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