Networking service LinkedIn gets rave fourth-quarter reviews from investors
APSAN FRANCISCO -- Online professional-networking service LinkedIn's fourth-quarter performance added another line to its sterling resume as a public company.
February 9, 2013, 12:03 am TWN
The results announced Thursday extended LinkedIn Corp.'s uninterrupted streak of exceeding analysts' projections for both earnings and revenue. It marked the seventh consecutive quarter since LinkedIn's May 2011 IPO that the company has pulled that off, to the delight of investors.
The run of pleasant surprises is one of the reasons that LinkedIn's stock has tripled from its initial public offering price of US$45. The shares surged US$11.71, or 9.4 percent, to US$135.80 in extended trading after the numbers came out.
Besides a 66 percent increase in earnings from the previous year, the latest quarter was highlighted by an influx of 15 million accounts to propel LinkedIn's total membership beyond 200 million. Visitors to LinkedIn's website also viewed 67 percent more pages than the previous year, an indication that the company's efforts to add more business news and career tips from top business executives are paying off.