LinkedIn (LNKD) Stock Plunges on 2014 Guidance

Shares of LinkedIn Corp. (LNKD) were trading at $207.79 off -15.66 or -7.01 percent in pre-market trading this morning, after the company announced fourth quarter and 2013 full year results after the market close yesterday afternoon. LinkedIn stock closed at $223.45, up +9.09 or +4.24 percent in Thursdayâ s regular trading session.

LinkedIn reported solid fourth quarter earnings and announced the acquisition of start-up Bright for $120 million. Despite an increase in revenue, investors sold the stock after the companyâ s 2014 forecast failed to meet expectations.
Mountain View, California based LinkedIn Corp. is a social network website catering to people in professional capacities. The company, founded in 2003, has grown exponentially, and as of last June, had a total of 259 million acquired users in 200 countries around the world. LinkedInâ s average net yearly profit has grown +139 percent every year and the firm is considered one of the most successful startups of all time. LinkedIn reported fourth-quarter profits of $3.8 million, or $0.30 per share, on revenues of $447.2 million. Profits were down -66.9 percent from a year ago, but revenue grew +47 percent. After a one-time charge, LinkedInâ s net income increased year on year to $48.2 million from $40.2 million. Jeff Weiner, CEO of LinkedIn said â

Published on Feb 7, 2014
By Jay Hawk
Jay Hawk
Jay Hawk enjoyed a 12-year professional financial markets career incorporating extensive first hand futures and options experience obtained by trading in the stock, commodity and forex markets on U.S. exchanges. Since retiring as a full-time financial market professional, he has been actively trading stock, commodities, forex and options for his own account and managing funds for others, as well as writing financial market commentary and educational articles.

Copyrighted 2020. Content published with author's permission.

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