LinkedIn Trading Near All-Time High After Earnings Beat
After an impressive quarter in which it beat expectations and doubled revenue from last year, LinkedIn is today trading near its all-time high.
The stock price for the business networking site has been as high as $120.63 today, up from a close of $109.41 on Thursday before earnings were reported.
The Mountain View, Calif.-based company’s all-time high is $122.70, reached on the first day it was publicly traded last May.
In the meantime, LinkedIn had bottomed out at $55.98 last November.
It’s currently trading at $119.10, up 8.86 percent.
Yesterday LinkedIn said it had $5 million in net income during the first quarter, for earnings of $0.05 per share, where analysts had expected it to break even. The company brought in $188.5 million in revenue, up from $93.9 million in the first quarter of 2011.
LinkedIn also announced the acquisition of SlideShare for $118.8 million, a good fit for its expanding professional tool set.
Chart via Google Finance.