LinkedIn might not have semi-nude party photos like Facebook or red-hot limited-time discounts like Groupon, but the social network for buttoned-down career-building is killing it on Wall Street. LinkedIn’s big third-quarter profit shot past analyst expectations and has the stock up 6 percent after-hours, building on an 11-month tear.
The company just posted adjusted earnings of 22 cents per share, doubling the consensus estimate of 11 cents per share. Revenue of $252 million was up 81 percent from the same period last year, and exceeded analyst estimates by 3 percent. The company said it grew all its major business lines – charging access fees to recruiters, selling ads, and selling premium memberships – and benefited from increased member activity.
LinkedIn revised upward its guidance for full-year 2012, estimating revenues will come in at $939 million to $944 million, versus a prior forecast of $915 million to $925 million.
Since going public in May 2011, LinkedIn has more than doubled its $45-per-share offering price thanks to strong user growth and revenue that has consistently outpaced analyst expectations. Sexier peers like Facebook, Groupon, and Pandora, meanwhile, are all trading below their offering prices.
LinkedIn management will convene a conference call with analysts at 5:00 p.m. ET, available as a livestream here.
