LinkedIn Reports Strong 1Q14 Results
LinkedIn Corporation (NYSE: LNKD) reported first quarter 2014 results on Thursday, May 1 after the close.
In the press release, CEO Jeff Weiner commented, "The first quarter was strong for LinkedIn in terms of our member engagement and financial results. We made significant progress against several strategic priorities including expanding internationally with our China launch, extending our shift to content marketing, and furthering our goal to make LinkedIn the definitive professional publishing platform by giving members the ability to publish long-form content."
Summary of Earnings
- LinkedIn reported first quarter EPS of $0.38 versus the estimated $0.34.
- Net loss was $13.4 million for the quarter compared with $22.6 million for the same quarter a year ago.
- Non-GAAP net income was $47.3 million, compared to $52.4 million for the first quarter of 2013.
- LinkedIn reported adjusted EBITDA of $116.7 million, or 25% of revenue, compared to $83.4 million for the first quarter of 2013, or 26% of revenue.
- The company launched a beta version of the platform in Simplified Chinese in the first quarter.
- LinkedIn opened a professional publishing platform and released a new version of Who's Viewed Your Profile.
- Second quarter revenue is expected to be within $500- $505 million.
- The company sees adjusted EBITDA for 2Q14 to be in $118- $120 million range.
- Revenue for the full year is expected to be within $2.06 billion and $2.08 billion.
- LinkedIn sees adjusted EBITDA for FY14 to be in $505- $510 million range.
Investors and the general public can listen to LinkedIn's webcast and conference call here at 5:00 pm Eastern Time/2:00 pm Pacific Time.
Shares of LinkedIn closed at $161.22 on Thursday, up 5.05 percent.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.