LinkedIn Tops Wall Street's Expectations for Its First Quarter

LinkedIn (NYSE: LNKD  ) reported fiscal 2014 first-quarter earnings after the market closed on Thursday that beat analyst estimates on both the top and bottom lines. For the period ended March 31, LinkedIn posted a non-generally accepted accounted principles profit of $0.38 per diluted share, which was down from $0.45 per share during the same period a year ago. However, it was enough to beat Wall Street's expectations for projected earnings per share of just $0.34 in the period.

LinkedIn's first-quarter revenue also topped estimates -- increasing 46%, to $473.2 million, up from $324.7 million a year ago. Analysts were expecting revenue of $466.5 million. Talent Solutions, which is LinkedIn's biggest business segment, saw revenue climb 50% in the quarter, to $275.9 million. LinkedIn also generated strong revenue growth across its Marketing Solutions and Premium Subscriptions businesses.

"Strong first quarter financial results were driven by sustained investment, resulting in healthy member trends and balanced growth across our three diverse product lines," said Steve Sordello, LinkedIn's chief financial officer. The world's largest social network for professionals said it expects revenue in the range of $500 million and $505 million in Q2, and full-year revenue between $2.06 billion and $2.08 billion.

Shares of LinkedIn were down more than 2%, trading around $157 apiece as of 4:30 p.m. today.


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