LinkedIn Rises After Q3 Results; Lifts Guidance
LinkedIn (NASDAQ: LNKD) released its fiscal third quarter earnings results after the closing bell on Thursday. The company easily beat Wall Street earnings and revenue estimates and raised its revenue guidance for the fourth quarter.
In the fourth quarter, the company now sees revenue between $270 million and $275 million. This compares to analysts' current consensus revenue estimates of $272.27 million for the fourth quarter.
LinkedIn also revised its expected revenue range higher for the full-year. It now sees revenue between $939 million to $944 million compared to its previous range of $915 million to $925 million.
LinkedIn also raised its EBITDA range for the full-year to $202 million to $204 million versus its prior range of $185 million to $190 million. Currently, analysts expect LinkedIn to report full-year revenue of $933.20 million.
Net income for the third quarter at LinkedIn was $2.3 million or $0.02 per share, compared to a net loss of $1.6 million or $0.02 per share, in last year's third quarter.
On a non-GAAP basis, which is comparable to analysts' consensus, the company reported net income of $25.1 million or $0.22 per share, versus $6.6 million or $0.06 per share, in last year's corresponding quarter. This easily beat Wall Street analysts' consensus EPS estimates of $0.11.
Revenue in the period was $252.0 million, an increase of 81 percent versus the $139.5 million the company reported last year. This also easily beat Street consensus revenue estimates of $243.90 million.
In Thursday's after-hours trading session, LNKD traded up almost 9 percent to $116.00.
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