LinkedIn Reports Strong Quarterly Revenue
Business oriented social network LinkedIn Corp. reported stronger than expected number. The company reported loss during second quarter, but the results were better than expectations of market experts.
LinkedIn posted a quarterly loss of $1 million compared to profit of $3.7 million during second quarter last year. The company registered impressive 47 percent increase in revenue at $533 million compared to $363 million during same quarter last year.
Mountain View-based LinkedIn has given positive guidance for future. The stock jumped 8.8 percent after the results were announced. The stock jumped to $194.2 in afterhours trading after closing 3.5% down ($180.64) on July 31.
Compared to Facebook and Twitter, LinkedIn has higher number of professionals as members. The website serves 300 million members worldwide and offers them options to interact and network with other users. The company generated 20 percent revenue from advertising, 20 percent from premium subscription services. LinkedIn generated 60 percent of its revenue from ‘talent solutions’ segment.
The social networking companies including Facebook, Twitter and LinkedIn have reported better numbers than the expectations of Wall Street. As the economy improves, the online advertising space is expected to yield more revenue. These companies are increasing their user base and investors see tremendous potential. This could lead to re-rating of these stocks.
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