LinkedIn Corp (NYSE:LNKD) last posted its quarterly earnings data on Thursday, April 28th.
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The professional networking company guided for second quarter revenue of $885 million to $890 million, on EPS of $0.74 to $0.77, above the Street’s estimate of $0.71. Wall Street had expected those figures to come in at $539.8 million, $142.3 million and $142.4 million, respectively, according to StreetAccount.
In more absolute terms, that adds up to nearly $861 million – Significantly above the analyst-expected value of $828 million.While on the basis of yearly comparisons, the revenue means a 35 percent year-over-year increase. This was up from $72.54 million, or $0.57 per share, in last year’s first quarter.
First-quarter revenue from its Talent Solutions business, the company’s main moneymaker, rose 41 per cent to $558 million as the company sought out large corporate customers that pay to track down potential job candidates.
Shares of LinkedIn surged by as much as 8.6% to $133.51 in after-hours trades. The company now expects revenues in between $3.65 billion and $3.70 billion (mid-point $3.675 billion), up from the previous guidance of $3.60 billion to $3.65 billion (mid-point $3.625 billion). Total revenue increased 35% to $861 million. For two quarters in a row now, this key metric, which measures LinkedIn’s monthly average unique visitor count during the quarter, has remained at 100 million. That beat the 71-cent analyst estimate. Although it announced better-than-expected earnings and revenue at the time, its shares plummeted on its outlook for the first quarter of 2016. LinkedIn Corp’s revenue for the quarter was up 35.0% compared to the same quarter a year ago.
“LinkedIn delivered strong financial results and growth across our core product lines”, said Jeff Weiner, CEO of LinkedIn. “As a result of our new mobile experience, members are increasing their activity on LinkedIn, assisting drive strong levels of engagement across the platform”.
Notably, analyst expectations for LinkedIn’s first quarter are ahead of the company’s own guidance for the quarter.
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Adjusted EBITDA is now expected between $985 million and $1.005 billion as against the earlier guidance of $950 million to $975 million.
