MOUNTAIN VIEW, Calif. – MOUNTAIN VIEW, Calif. (AP) _ LinkedIn Corp. (LNKD) on Thursday reported a loss of $45.8 million in its first quarter.
The Mountain View, California-based company said it had a loss of 35 cents per share. Earnings, adjusted for one-time gains and costs, came to 74 cents per share.
The results exceeded Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The online professional networking company posted revenue of $860.7 million in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $828.4 million.
For the current quarter ending in July, LinkedIn expects its per-share earnings to range from 74 cents to 77 cents.
The company said it expects revenue in the range of $885 million to $890 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $882.3 million.
LinkedIn expects full-year earnings in the range of $3.30 to $3.40 per share, with revenue ranging from $3.65 billion to $3.7 billion.
LinkedIn shares have declined 45 per cent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $123.01, a decline of 52 per cent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LNKD at http://www.zacks.com/ap/LNKD
Keywords: LinkedIn, Earnings Report, Priority Earnings