LinkedIn's (LNKD) Q4 Growth Mimics Apple; Grows Members 14%
LinkedIn (NYSE: LNKD) is evidently the new Apple (Nasdaq: AAPL)...but more focused on business/social networking.
Revenue in LinkedIn's fourth quarter reached $167.74 million, up 105 percent from $81.70 million reported in the same period last year.
Total net income improved just 340 percent to $6.91 million, or 6 cents per share. After adjusting for stock-based comps and intangible asset amortization, EPS were a more robust 12 cents.
The Street was looking for revs of $159.7 million and EPS of 7 cents.
LinkedIn added 18.8 million members in the quarter, for a total of 150 million.
Hiring solutions revs rose 136 percent to $84.9 million, Marketing Solutions saw a 77 percent increase to $49.5 million, and Premium Subs revs rose 87 percent to $33.3 million.
"Q4 once again exceeded our expectations for member engagement and business growth," commented Jeff Weiner, LinkedIn CEO. "It was a fitting end to a memorable year in which we reinforced our position as the pre-eminent professional network on the web."
Looking ahead, LinkedIn sees first-quarter revs of $170 million to $175 million, versus the Street's expectations of $170.8 million. For fiscal 2012, the company sees revs of $840 million to $860 million, compared with views calling for $828 million.
Shares are up 9 percent in post-market trading Thursday.
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Revenue in LinkedIn's fourth quarter reached $167.74 million, up 105 percent from $81.70 million reported in the same period last year.
Total net income improved just 340 percent to $6.91 million, or 6 cents per share. After adjusting for stock-based comps and intangible asset amortization, EPS were a more robust 12 cents.
The Street was looking for revs of $159.7 million and EPS of 7 cents.
LinkedIn added 18.8 million members in the quarter, for a total of 150 million.
Hiring solutions revs rose 136 percent to $84.9 million, Marketing Solutions saw a 77 percent increase to $49.5 million, and Premium Subs revs rose 87 percent to $33.3 million.
"Q4 once again exceeded our expectations for member engagement and business growth," commented Jeff Weiner, LinkedIn CEO. "It was a fitting end to a memorable year in which we reinforced our position as the pre-eminent professional network on the web."
Looking ahead, LinkedIn sees first-quarter revs of $170 million to $175 million, versus the Street's expectations of $170.8 million. For fiscal 2012, the company sees revs of $840 million to $860 million, compared with views calling for $828 million.
Shares are up 9 percent in post-market trading Thursday.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
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