LinkedIn (LNKD) Stock Lower After Posting Loss
Shares of LinkedIn Corp. (LNKD) were trading at $160.00 per share, down -1.22 or -0.76 percent in early pre-market trading Friday, after the company announced its first quarter 2014 earnings right after the close of trading on Thursday. LinkedIn stock was down to $154.20 per share, or -4.4 percent lower in after-hours trading Thursday after the earnings release, but closed up +7.75 or +5.05 percent at $161.22 per share in the regular trading session.
Mountain View, California based LinkedIn Corp. is a social network website that offers services to people in professional capacities. Founded in 2003, LinkedIn has grown exponentially, having grown to a total of 296 million acquired users in 200 countries around the world. LinkedInâ s average net yearly profits have grown an average of +139 percent every year since its founding and the firm is considered one of the most successful startups of all time. LinkedIn reported its first quarterly loss since going public. The company posted a loss of -$13.4 million, or $0.11 per share, compared to net income of +22.6 million, or +$0.20 per share in the same period one year ago. The quarterly loss was in large part attributed to LinkedInâ s acquisition of Bright.com for $120 million earlier this year, along with the companyâ s expansion into the Chinese market. Nevertheless, revenue increased +46 percent to $473.2 million, versus $325 million in the same period last year. LinkedIn reported memberships had increased seven percent from 277 million to 296 million in the third quarter with an additional seven percent increase in December. Monthly unique visitors were also up from 139 million to 142 million in the fourth quarter. Jeff Weiner, CEO of LinkedIn said â
Published on May 2, 2014
By Jay Hawk