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Rising costs hurt LinkedIn Corporation (NYSE:LNKD) in the second quarter as profit dropped from a year earlier. LinkedIn is a professional network on the Internet with more than 90 million members in over 200 countries and territories.
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LinkedIn Corporation Earnings Cheat Sheet
Results: Net income for LinkedIn Corporation fell to $2.8 million (3 cents per share) vs. $4.5 million (4 cents per share) a year earlier. This is a decline of 37.7% from the year-earlier quarter.
Revenue: Rose 88.5% to $228.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: LinkedIn Corporation reported adjusted net income of 16 cents per share. By that measure, the company beat the mean estimate of 6 cents per share.
Quoting Management: “LinkedIn had a strong second quarter with all of our key operating and financial metrics showing solid performance,” said Jeff Weiner, CEO of LinkedIn. “Our ongoing investment in product innovation drove healthy engagement as measured by unique visiting members and member page views, and our three revenue streams all experienced significant growth.”
The company has now surpassed analyst estimates for four quarters in a row. It beat the mark by 3 cents in the first quarter, by 7 cents in the fourth quarter of the last fiscal year, and by 3 cents in the third quarter of the last fiscal year.
Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the third quarter has moved down from 7 cents a share to 5 cents over the last ninety days. At 20 cents per share, the average estimate for the fiscal year has fallen from 24 cents ninety days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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