LinkedIn results give relief to social media
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.