LinkedIn 3Q results sail past expectations

LinkedIn 3Q results sail past expectations

Credit: Getty Images

SAN ANSELMO, CA - JANUARY 27: In this photo illustration, the LinkedIn logo is displayed on the screen of a laptop computer on January 27, 2011 in San Anselmo, California. Social networking internet site LinkedIn Corp. filed documents with the U.S. regulators for an initial public offering. (Photo Illustration by Justin Sullivan/Getty Images)

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KMOV.com

Posted on November 2, 2012 at 10:32 AM

MOUNTAIN VIEW, Calif. (AP) -- Professional networking site LinkedIn says it made a profit in the third quarter, reversing a loss a year earlier as revenue grew at a faster pace than analysts expected.

   Its stock is up 5 percent in after-hours trading.

   LinkedIn Corp. said Thursday that it earned $2.3 million, or 2 cents per share, in the July-September period. That's up from a loss of $1.9 million, or 2 cents per share, a year ago.

   Adjusted earnings were 22 cents per share in the latest quarter, double what analysts expected.

   Revenue grew 81 percent to $252 million from $139.5 million.

   Analysts surveyed by FactSet expected revenue of $244.6 million.

   For the current quarter, LinkedIn is forecasting revenue of $270 to $275 million, which brackets analysts' expectations of $272.9 million.
 

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