LinkedIn 2014 revenue forecast misses Wall Street estimate

SAN FRANCISCO Fri Feb 7, 2014 4:32am IST

The logo for LinkedIn Corporation is shown in Mountain View, California February 6, 2013. REUTERS/Robert Galbraith/Files

The logo for LinkedIn Corporation is shown in Mountain View, California February 6, 2013.

Credit: Reuters/Robert Galbraith/Files

Related Topics

Stocks

   

SAN FRANCISCO (Reuters) - LinkedIn Corp (LNKD.N) delivered a revenue forecast that fell short of Wall Street expectations, sending its stock down about 8 percent in after-hours trading on Thursday.

The social network geared towards professionals posted a better than expected 47 percent jump in fourth-quarter revenue and announced the $120 million cash and stock acquisition of online job search service Bright on Thursday.

But LinkedIn's revenue guidance for the first quarter and for the full 2014 year both missed analysts' expectations.

LinkedIn said 2014 revenue will range between $2.02 billion and $2.05 billion, compared to the average analyst expectation of $2.16 billion, according to Thomson Reuters I/B/E/S.

For the first quarter, the company's forecasted revenue range of $455 million to $460 million was below the $470 million expected by analysts.

LinkedIn has beaten top-line targets every quarter since the company went public in 2011. Its priority is now finding ways to make money out of the company's mobile applications through features such as "sponsored updates".

Mobile users accounted for 38 percent of total users in the third quarter, compared to a mere 8 percent in early 2011.

Shares of LinkedIn were down 8 percent at $205.51.

(Editing by Bernard Orr)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Sino-Indian Ties

REUTERS SHOWCASE

Eyeing Stocks

Eyeing Stocks

Interview - EPFO chief urges green light to buy stocks  Full Article 

Stimulus Reports

Stimulus Reports

China cenbank injects $81 bln into major banks to support economy - reports  Full Article 

Ranbaxy Investigation

Ranbaxy Investigation

Ranbaxy says U.S. authorities seek information on pricing data.  Full Article 

Monsoon Update

Monsoon Update

Delayed retreat of monsoon rains to start this weekend  Full Article 

Financing Deal

Financing Deal

IndiGo agrees $2.6 billion aircraft finance deal with China's ICBC  Full Article 

Fed Policy Meeting

Fed Policy Meeting

Fed could hint on rate-hike plans as it prepares for policy turn  Full Article 

Grim Outlook

Grim Outlook

Sony deepens loss estimate on struggling smartphone business  Full Article 

Sugar Surplus

Sugar Surplus

India to produce surplus sugar for fifth straight year - industry body  Full Article 

Business Sentiment

Business Sentiment

China, Singapore slowdown weigh on Q3 Asia business sentiment   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage