LinkedIn soars on earnings beat
Justin Sullivan/GettyCEO Jeff Weiner.
LinkedIn just reported its Q1 earnings, beating Wall Street expectations on the top and bottom lines.
The stock soared more than 15% after-hours, but settled at about 8%.
Here are the most important numbers:
- Adjusted earnings per share: $0.74 ($0.60 expected).
- Revenue: $860.7 million ($828 million expected).
That revenue is up 35% year-over-year.
LinkedIn's GAAP net loss was $46 million, making its GAAP-diluted EPS $0.35.
"We are off to a good start in 2016 with strength in our core and emerging businesses," Steve Sordello, CFO of LinkedIn, wrote in the company's earnings release. "We continue to invest heavily in innovation and in our core products, while at the same time driving focus and scale to enable growth and leverage across the business."
The reaction to this report comes in stark contrast to LinkedIn's Q4, when the stock tanked more than 40%.
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