LinkedIn Plunges After Q1 Results; Outlook Weak

  on

LinkedIn (NASDAQ: LNKD [FREE Stock Trend Analysis]) released its fiscal first-quarter earnings results after the closing bell on Thursday.

The company reported both earnings and revenue well above consensus estimates, but its Q2 guidance was weak. As a result, the stock was trading down around 10 percent in late trade to $181.60.

Net income for Q1 was $22.6 million or $0.20 per share, compared to $5 million or $0.04 per share, in the year ago period.

Adjused net income was $52.4 million or $0.45 per share, versus $16.9 million or $0.15 per share, in last year's first-quarter. This easily topped Wall Street consensus EPS estimates of $0.31.

Net revenue for the quarter was $324.7 million from $188.5 million last year. This also came in above Wall Street sales estimates of $317.08 million. Looking ahead to Q2, LinkedIn guided for revenue of $342 million to $347 million. This is well below current consensus of $359.24 million.

For the full-year, the company lifted its revenue outlook to a range of $1.43 billion to $1.46 billion versus its previous view of $1.41 billion to $1.44 billion. This remains below consensus of $1.49 billion for the full-year.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

 

Join the Discussion