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Technology Stocks : LinkedIn Corporation

LNKD 195.96

0.0%

Dec 16 4:00 PM EST

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From: Glenn Petersen	5/3/2012 5:19:31 PM
	of 272

LNKD in is up sharply in AH trading: UPDATE 1-LinkedIn revises upward outlook, beats on profit Thu May 3, 2012 4:46pm EDT * Q1 adj EPS 15 cents vs Street view 9 cents * Total revenue jumps 101 pct, beats expectations * Revises 2012 revenue outlook upward * Shares rise 9 pct in after-hours trading May 3 (Reuters) - LinkedIn Corp reported better-than-expected revenue and profit after it racked up strong growth from its services that help companies find and hire employees and it revised upward its 2012 outlook. The professional networking site also announced on Thursday that it acquired content sharing company SlideShare for $118.75 million in a mix of cash and stock. First quarter revenue at LinkedIn rose 101 percent to $188.5 million, besting analysts' average forecast of $178.58 million, according to Thomson Reuters I/B/E/S. Shares of LinkedIn were up 9 percent in after-hours trading to $120.50 from their $109.41 close in regular trading. The Mountain View, California-based company was one of the first prominent U.S. social networking sites to make its debut in an initial public offering a year ago, whetting the appetites of those eagerly awaiting Facebook's impending IPO. The company revised its 2012 outlook, expecting revenue in the range of $880 million to $900 million from a prior range of $840 million to $860 million. Excluding special items, its first-quarter earnings per share of 15 cents was well above analysts' expectations of 9 cents per share. Net income rose to $5 million from $2.1 million in the same quarter a year ago. reuters.com

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