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

REUTERS EXCLUSIVE

REUTERS SHOWCASE

iOS 8 Issue

iOS 8 Issue

iOS 8 causing Bluetooth connectivity issues - Apple news blog  Full Article 

Modi In U.S.

Modi In U.S.

Obama, Modi work to deepen improving U.S.-India ties  Full Article | Full Coverage 

NYT Job Cut

NYT Job Cut

New York Times to cut jobs as new products disappoint  Full Article 

Factory Activity

Factory Activity

Factories expand at slowest pace this year in September  Full Article 

Monetary Policy

Monetary Policy

RBI not biased towards either raising or cutting rates - Rajan  Full Article 

Weak Demand

Weak Demand

Weak demand hits factory activity across Asia, Europe  Full Article 

Pimco Fund

Pimco Fund

Pimco Total Return Fund posts record $23.5 bln net outflow in Sept  Full Article 

Reuters India Mobile

Reuters India Mobile

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