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Linkedin Corporation (NYSE:LNKD) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 10%.
Linkedin Corporation Earnings Cheat Sheet
Results: Net income increased 66.18% to $11.5 million (35 cents per diluted share excluding items) in the quarter versus a net gain of $6.92 million in the year-earlier quarter.
Revenue: Rose 81.23% to $304 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Linkedin Corporation reported adjusted net income of 35 cents per share. By that measure, the company beat the mean analyst estimate of $0.19. It beat the average revenue estimate of $279.5 million.
Quoting Management: “2012 was a transformative year for LinkedIn,” said Jeff Weiner, CEO of LinkedIn. “We exited 2011 having successfully revamped our underlying development infrastructure. Based on that investment, we said that 2012 would be a year of accelerated product innovation, and it was. The products we delivered throughout the year drove member engagement and financial results to record levels in the fourth quarter.”
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