It's no secret that Facebook has had a less-than-pleasant experience with Wall Street, and investors are still trying to recover.  However, in the realm of social network stock, Linkedln appears to be well out-performing Facebook and is enjoying some great success.  Linkedln stock has recently been riding an upward wave; about a 4% increase in share prices as of late.  This only meant good news for analysts who had an initial estimate of around $215 million, and thanks to the vast array of sources, especially the incrome from shares, that esimate was exceed by roughly $13 million.  All-in-al not a bad day for this social medium.

"It's the flip side of the Facebook story: A (relatively) newly-public Internet company with a story that Wall Street actually likes.

So it was that shares of LinkedIn rose about seven percent in after-hours trading after the company earned $2.8 million on $228.2 million in revenue during the second quarter. Revenue was up 89 percent over the same period a year ago.

Not accounting for special charges, the professional networking site earned 16 cents a share, in line with the consensus Wall Street estimate gathered by FactSet Research. Analysts had expected $215.8 million in sales, compared to $121 in revenue during the same quarter a year earlier when LinkedIn posted net income of $4.5 million."

Source: C|NET

Newer

Older