LinkedIn Q1 Conference Call: Live Blog
5:59pm: Shares down 20.7% at $200
5:58pm: Conference call has ended
5:55pm: Dedicated team on R&D in China
5:52pm: Mobile growing, but at an overall smaller piece of revenue base
5:50pm: Lynda is one of the more focused areas. By mid-next year, we'll have rebuilt the deferred revenue base.
5:46pm: Churn was at record-low in Q4
5:43pm: Marketing solutions, sponsored updates growing at healthy rate
5:42pm: Price increase in talent solutions: Saw no impact in terms of churn.
5:41pm: Pleased with progress making in larger premium accounts
5:40pm: Premium came in as expected. Sales Navigator just north of 30% of prem. rev (was just under last quarter), growing at much faster rate than prem. subs.
5:37pm: On marketing solutions, wouldn't say this is a problem. Demand is strong.
5:36pm: Display was down 10% in Q1, more material headwinds than in prior quarters.
5:32pm: Europe's been a little weak on the talent solutions and marketing solutions side. But overall, feel good about talent solutions.
5:27pm: On Lynda acquisition: Revenue that we can recognize was 'seriously diluted' for this year
5:25pm: About 60% of customers now have a new account rep, which believe had affect on business. This was done for the longterm
5:23pm: Q&A begins
5:20pm: Due to recent currency moves, expect an additional $50 million impact throughout the remainder of 2015 compared to our original forecast
5:17pm: Sordello: Throughout the year, we will continue to iterate on our flagship product and expand the salesforce to pursue our $15 billion market opportunity. In the first quarter, sales solutions represented just north of 30 percent of premium subs revenue.
5:14pm: CFO Sordello: We typically transition a portion of accounts early in the year as we onboard new reps. This trend was especially pronounced in Q1 as we re-segmented the customer base in order to driver deeper relationships. As a result, we increased the number of account transitions across the global salesforce by over 50 percent versus the prior year. While this was a planned adjustment, we underestimated the impact from this large initiative with respect to short-term churn and 2015 revenue more broadly.
5:12pm: Unique visiting members grew 18%
5:09pm: Q1 R&D, job changes will impact us in the middle of 2015
5:07pm: Job apps exited Q1 up 50% YoY
5:06pm: Recently surpassed 3.5 million active job listings on LinkedIn
5:06pm: Lynda training videos will be integrating into our platforms and premium platforms where appropriate
5:04pm: More than 75% of new members came from outside the US
5:02pm: Q1 rev. grew 35% to $638 million
5:02pm: CEO Jeff Weiner: We maintained steady growth in member engagement
5:00pm: Call has begun
4:49pm: Shares down 24% at $191
4:05pm: LinkedIn Sees FY15 Sales ~$2.9B vs $3.03B Est., ~$1.90 vs $3.03 Est.
4:04pm: LinkedIn Sees Q2 Sales $670M-$675M vs $718M Est.
4:02pm: LinkedIn Reports Q1 EPS $0.57 vs $0.57 Est., Sales $638M vs $637.5M Est.
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