Thursday, July 10, 2014

LinkedIn posts 3Q net loss but revenue grows

October 29. 2013 4:43PM
Associated Press

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(AP) LinkedIn posted a loss for the third quarter but the results were stronger than expected as the professional networking service boosted its user base and increased its revenue.

LinkedIn has surpassed Wall Street's expectations in all of its quarters as a publicly traded company and this one was no exception.

LinkedIn Corp. said Tuesday that it lost $3.4 million, or 3 cents per share, in the July-September period. It had earned $2.3 million, or 2 cents per share, in the same period a year earlier. Adjusted earnings were 39 cents per share.

Revenue rose 56 percent to $393 million from $252 million.

Analysts, on average, had expected earnings of 32 cents per share on revenue of $384.8 million, according to FactSet.

Associated Press

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