LinkedIn Earnings: Profit Soars, but Shares Fall on Weak Outlook

May 2, 2013 at 2:48 pm PT

LinkedIn Corp.’s first-quarter profit surged as the social network continued to benefit from higher membership rolls and premium subscriptions.

But shares dropped after hours by 8.6 percent to $184.25, despite LinkedIn’s beating estimates, as the company issued downbeat revenue expectations for the second quarter. As of Thursday’s close, the stock was up 76 percent so far this year.

The company raised its full-year revenue guidance by $20 million, now expecting $1.43 billion to $1.46 billion. However, it forecast $342 million to $347 million in second-quarter revenue, below market estimates of $359 million, according to a poll conducted by Thomson Reuters.

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Tagged with: Ben Fox Rubin, LinkedIn, The Wall Street Journal

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