Mountain View, California-based LinkedIn’s second-quarter loss widened to $119.3 million or $0.89 per share from $67.7 million or $0.53 per share a year ago.
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Analysts expected LinkedIn to report earnings of 78 cents per share on revenue of $898 million, according to a Thomson Reuters consensus estimate.
The company’s stock closed down 0.13 percent for the day at $192.01, but in after-hours, it’s now up 0.15 percent. The stock has risen 54% in the past three months, far outperforming the S&P 500, which is up just 5.5%. In June, Microsoft Corp.
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The company added 450 million cumulative members.
The skilled social community reported second-quarter earnings that beat analysts’ expectations in income, pushed by progress in new members and subscribers. Member page views increased 32% and page views per unique visitor increased 21%.
Beat revenue estimates. The company saw revenue figures of $933 million, beating our consensus estimate of $897 million.
LinkedIn Corporation is an online professional network which allows members to create, manage, and share their professional identity online, build and engage with their professional network, access shared knowledge and insights, and find business opportunities.
“In Q2, we demonstrated good momentum with our member and customers, and delivered strong financial results”, CEO Jeff Weiner said in a statement, “Continued product innovation drove increased levels of engagement, and strengthened our enterprise offerings”.
However, the firm grew its revenue to $933m in the quarter, 31pc up year-on-year thanks to an 18pc year-on-year increase in members.
This latest quarterly earnings release comes in the shadow of LinkedIn’s $26.2 billion acquisition by Microsoft, which comes to about $196 per share as part of an all-cash deal.
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Looking ahead to the remainder of the year, in light of the pending merger, LinkedIn stated that it will not be updating its outlook for fiscal 2016.
