LinkedIn Rises as Earnings Beat Estimates Buoyed by Mobile App
- First-quarter revenue from main recruiting business climbs 41%
- Redesigned mobile apps increase usage of professional network
Why LinkedIn Shares Are Soaring
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LinkedIn Corp. surged as much as 6.5 percent Friday morning after forecasting earnings that beat estimates on improved performance from its main recruiting tools and a new mobile app, suggesting a surprise slowdown earlier this year was not as dire as analysts feared.
The operator of the largest online professional network said second-quarter profit, excluding some items, will be from 74 cents to 77 cents a share. That beat the 71-cent average analyst estimate.