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What's happening?
Shares of LinkedIn (NYSE:LNKD) are up 12% today following the online professional network's better-than-expected third quarter 2014 results, and despite lower-than-expected forward guidance.

Why it's happening
LinkedIn's quarterly revenue jumped 45% year-over-year to $568 million, once again driven by balanced growth across all three of its segments: talent solutions (45%), marketing solutions (45%), and premium subscriptions (43%). This translated to a 33% increase in adjusted earnings per share to $0.52. Analysts, on average, were only expecting adjusted earnings of $0.48 per share on sales of $557.4 million.

It's worth noting that LinkedIn's current-quarter guidance was somewhat subdued, calling for revenue between $600 million and $605 million, and adjusted earnings of $0.49 per share. Both figures were below analysts' models for earnings of $0.52 per share on sales of $611.6 million. Keep in mind LinkedIn's Q3 revenue and earnings also exceeded the mid-points of its own previous guidance by $23 million and $0.08 per share, respectively. Given LinkedIn's increasingly consistent habit of underpromising and overdelivering, it's no surprise investors are exercising forgiveness amid today's guidance shortfall.

Steve Symington has no position in any stocks mentioned. The Motley Fool recommends LinkedIn. The Motley Fool owns shares of LinkedIn. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.