LinkedIn Rises as Sales Top Estimates on Subscriptions
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LinkedIn Corp. rose after reporting third-quarter sales that exceeded analysts’ estimates as the biggest professional-networking website sold more subscriptions to its expanding customer base.
Shares rose as much as 9.5 percent after LinkedIn said revenue jumped 81 percent to $252 million from $139.5 million a year earlier. That topped the $244.1 million predicted by analysts, according to data compiled by Bloomberg. Net income was $2.3 million, or 2 cents a share, compared with a loss of $1.6 million, or 2 cents, the company said yesterday in a statement.