LinkedIn Stocks Soar as Profits Rise 34 Percent

linkedINLinked shares were on a joy ride of about 8% with a closing price of $195 in the after hours trading, after the earnings reported by the company were found better than expected.

The reported revenue of $534 million for the second quarter for the company was 47 percent higher than the same quarter last year and $24 million ahead of expected $511 million.

Jeff Weiner, the CEO of LinkedIn said in a statement:

“LinkedIn delivered strong financial results in the second quarter while maintaining investment in our member and customer offerings. We made significant progress against several key strategic priorities including increasing the scale of job opportunities on LinkedIn; expanding our professional publishing platform; and continuing the strategic shift towards content marketing through Sponsored Updates.”

LinkedIn expects a revenue of $547 million in the third quarter and the full year revenue of between $2.15 billion to $2.15 billion.

The share price of LinkedIn has been down 17 percent. In comparison Facebook share price is up 33 percent and Twitter is also down 29 percent.

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