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LinkedIn Shares Surge after Company Reports Q1 Results (LNKD)

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Linkedin CorporationShares of professional social networking site, LinkedIn Corp. (NYSE: LNKD) climbed up nearly 10% on Friday as Wall Street was abuzz with company’s bullish quarterly results and strong earnings forecast for the full year.

Meanwhile, many analysts raised their price targets of recently listed company a day after LinkedIn released better than expected earnings along with an announcement of $118.8 million acquisition.


According to Reuters, Doug Anmuth, an analyst at JP Morgan Chase wrote, “LinkedIn is disrupting both the online and offline job recruitment markets, and deeper corporate penetration and increasing member engagement will drive strong results going forward.”

The Company, after the evening bell ring on Thursday announced that it earned $5 million, or 4 cents a share, last quarter, up from $2.1 million, or breakeven, a year earlier.

After adjusting onetime expenses, the Company earned 15 cents a share, easily beating Wall Street’s forecasts for 9 cents a share.

Revenue also soared 101% higher to $188.5 million, easily surpassing the Street’s estimations of $178.6 million.

LinkedIn also raised its full-year guidance. The Company expects 2012 sales between $880 million and $900 million. Even if the sales stand at low end of the forecasted range, LinkedIn will still surpass analysts’ estimates of $876.8 million.  Similarly, LinkedIn projects its second-quarter revenue of $210 million to $215 million, compared with the Wall Street’s view estimates of $207.9 million.

Shares of LinkedIn leaped 9.88% to $120.22 on Friday.  Already, year-to-date, shares of LinkedIn shares soared 69%.

LinkedIn shares have nearly tripled in value since it made its IPO at $45, last year.

 
 

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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