LinkedIn (LNKD) Posts Strong 'Beat and Raise' Q1, Acquires SlideShare
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LinkedIn (NYSE: LNKD) shares are marching higher after-hours Thursday following strong first-quarter results and a raised outlook. The company also made a nice tuck-in acquisition.
Revenue in the quarter rose 101 percent to $188.5 million, which easily surpassed the Wall Street consensus of $178.31 million. Revenue from hiring solutions rose 121 percent to $102.6 million. Revenue from Marketing Solutions was $48 million, up 73 percent. Revenue from Premium Subscriptions products totaled $37.9 million, up 91 percent.
Net income for the quarter was $5.0 million, versus $2.1 million last year. Non-GAAP EPS was $0.15 versus the analyst consensus of $0.09.
"LinkedIn's solid performance in the first quarter built on the company's momentum in 2011," said Jeff Weiner, CEO of LinkedIn. "We saw strength across all key metrics from member signups and engagement to significant revenue growth across our three product lines."
Linkedin sees revenue of $210 million to $215 million, versus the consensus of $207.9 million.
The company has revised upward its full year 2012 guidance. The company sees revenue of $880 million to $900 million from the prior range of $840 million to $860 million, versus the consensus of $876.8 million.
LinkedIn also announced a deal to acquire professional content sharing community SlideShare for $118.75 million.
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Revenue in the quarter rose 101 percent to $188.5 million, which easily surpassed the Wall Street consensus of $178.31 million. Revenue from hiring solutions rose 121 percent to $102.6 million. Revenue from Marketing Solutions was $48 million, up 73 percent. Revenue from Premium Subscriptions products totaled $37.9 million, up 91 percent.
Net income for the quarter was $5.0 million, versus $2.1 million last year. Non-GAAP EPS was $0.15 versus the analyst consensus of $0.09.
"LinkedIn's solid performance in the first quarter built on the company's momentum in 2011," said Jeff Weiner, CEO of LinkedIn. "We saw strength across all key metrics from member signups and engagement to significant revenue growth across our three product lines."
Linkedin sees revenue of $210 million to $215 million, versus the consensus of $207.9 million.
The company has revised upward its full year 2012 guidance. The company sees revenue of $880 million to $900 million from the prior range of $840 million to $860 million, versus the consensus of $876.8 million.
LinkedIn also announced a deal to acquire professional content sharing community SlideShare for $118.75 million.
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