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What: Shares of professional networker LinkedIn (NYSE:LNKD.DL) connected with gains today, up by 12% at the high, after the company posted strong second-quarter earnings.
So what: Revenue in the second quarter totaled $363.7 million, which led to non-GAAP earnings per share of $0.38. The company registered healthy beats on both counts, as the Street was forecasting sales of $354 million and adjusted earnings per share of just $0.31.
Now what: Total members grew 37% to 238 million, which the company attributed to product optimization. Premium subscription revenue soared 68% to $73 million, and talent solutions revenue similarly jumped 69% to $205.1 million. The company recently redesigned its mobile apps, which has led to increases in activity and engagement. Third-quarter sales should be in the range of $367 million to $373 million. LinkedIn has received a slew of analyst upgrades following the results, including from Cantor Fitzgerald, Evercore, and Goldman Sachs.
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