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LinkedIn results give relief to social media

Published on Aug 3, 2012 6:03 AM
 
The professional social media group LinkedIn reported better-than-expected results on Thursday, giving some relief to a sector battered by disappointments from Facebook and others. -- PHOTO: REUTERS

SAN FRANCISCO (AFP) - The professional social media group LinkedIn reported better-than-expected results on Thursday, giving some relief to a sector battered by disappointments from Facebook and others.

LinkedIn reported a profit of US$2.8 million (S$3.48 million) on revenues of US$228 million in the second quarter.

The earnings amounted to 16 cents a share excluding special items, in line with most forecasts. But revenues were well ahead of expectations of US$215 million, and grew 89 per cent from a year ago.

Its stock price jumped more than 5 per cent in after-hours trade.

 
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