Once again, the professional social network handily beats earnings and revenue expectations. August 1, 2013 1:15 PM PDT (Credit: LinkedIn) LinkedIn earned 38 cents per share on revenue of $363.7 million in the second quarter, an increase of 59 percent from the year ago quarter. The professional social network, which now touts 238 million members, posted net income of $3.7 million. Wall Street was looking or earnings per share of 31 cents on revenue of $353.85 million, which means LinkedIn more than exceeded their expectations. The Q2 earnings report comes a week after the widespread release of Sponsored Updates, a Web and mobile in-stream ad unit similar to Twitter's Promoted Tweets and Facebook's Sponsored Stories that the professional social network believes will funnel more revenue to its marketing solutions business. LinkedIn's stock spent most of Thursday climbing in anticipation of the report. Shares closed the day up 4.5 percent at $213. This story is developing. Refresh for updates.
Once again, the professional social network handily beats earnings and revenue expectations.
LinkedIn earned 38 cents per share on revenue of $363.7 million in the second quarter, an increase of 59 percent from the year ago quarter. The professional social network, which now touts 238 million members, posted net income of $3.7 million.
Wall Street was looking or earnings per share of 31 cents on revenue of $353.85 million, which means LinkedIn more than exceeded their expectations.
The Q2 earnings report comes a week after the widespread release of Sponsored Updates, a Web and mobile in-stream ad unit similar to Twitter's Promoted Tweets and Facebook's Sponsored Stories that the professional social network believes will funnel more revenue to its marketing solutions business.
LinkedIn's stock spent most of Thursday climbing in anticipation of the report. Shares closed the day up 4.5 percent at $213.
This story is developing. Refresh for updates.
