LinkedIn’s Shares Decrease 8.6%
LinkedIn Corp is a professional social network which has a total of 218 million members. The stock has increased 76% so far this year as memberships and premium subscriptions have surged. The company’s projected revenue has increased from $1.43 billion to $1.46 billion for this year; however second-quarter estimates are $2 million lower than previously forecasted. LinkedIn has added a number of features to users’ profiles and news feeds to keep up with rivals. The company’s “talent solutions” segment which is the largest part of the business grew 80% in the latest quarter; ad sales grew 56% and premium subscriptions rose 73%.
LinkedIn’s figures have been great yet its shares dropped 8.6% to $184.25 after market hours today as the company issued poor projections for the second quarter. As the job market becomes more and more competitive, having a LinkedIn profile is becoming the norm. Even my roommate who is a pre-med student has one… just for the sake of having one.
Source: The Wall Street Journal