linkedin corp - a (LNKD) Key Developments
The United States District Court for the Northern District of California Issues Decision Granting Summary Judgment to Linkedin, Inc. and Facebook, Inc
Jan 6 15
On January 2, 2015, the United States District Court for the Northern District of California issued a decision granting summary judgment to defendants LinkedIn, Inc. and Facebook, Inc. in connection with a lawsuit filed on October 3, 2012 by Plaintiff Bascom Research, LLC alleging patent infringement. As a result of the Court’s decision, Document Security Systems, Inc. expects that the value of the patents at issue, which had a net book value of $23.2 million as of September 30, 2014, has been impaired. In addition, Document Security Systems, Inc. will assess if reporting unit goodwill of approximately $12.6 million has been impaired by the court’s decision.
LinkedIn Corporation Presents at Credit Suisse 18th Annual Technology Conference, Dec-01-2014
Dec 1 14
LinkedIn Corporation Presents at Credit Suisse 18th Annual Technology Conference, Dec-01-2014 . Venue: The Phoenician, 6000 East Camelback Road, Scottsdale, AZ 85251, United States. Speakers: Kristin Altorfer, Sr. Manager IE, Matt Sonefeldt, Head of IE Matt Danziger, Sr. Manager IE.
Linkedin to Invest More in Dubai
Nov 15 14
LinkedIn is investing more in Dubai as the regional headquarters for the Middle East and North Africa is continuing to attract the high percentage of talent inflow. LinkedIn opened its Dubai office in October 2012 at Dubai Internet City. But he did not disclose how much LinkedIn is going to invest. The company is moving to a new location as the number of staff is increasing. It now has 50 staff at its Dubai office compared to a handful last year.
Lawsuit Claims Linkedin Shares Users Information Without Consent
Oct 31 14
A class action lawsuit alleged that LinkedIn violated federal law by sharing user information without consent. According to the lawsuit, LinkedIn allows prospective employers to obtain reports regarding other site users without their consent. The suit alleges that this constitutes a violation of the Fair Credit Reporting Act. The complaint alleges LinkedIn fails to comply with the FCRA's certification and disclosure requirements for credit reporting agencies and fails to maintain reasonable procedures to ensure maximum accuracy of consumer report information. The suit seeks injunctive relief and statutory damages for each violation on behalf of a class of all LinkedIn users who had a reference report run on them through LinkedIn's 'search for references' function.
LinkedIn Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter and Full Year of 2014
Oct 30 14
LinkedIn Corporation reported unaudited consolidated earnings results for the third quarter ended September 30, 2014. Net revenue for the third quarter was $568 million, an increase of 45% compared to $393 million in the third quarter of 2013. Net loss attributable to common stockholders for the third quarter was $4.3 million compared to net loss of $3.4 million for the third quarter of 2013. Non-GAAP net income for the third quarter was $66 million compared to $47 million for the third quarter of 2013. Adjusted EBITDA for the third quarter was $151 million, or 27% of revenue compared to $93 million for the third quarter of 2013, or 24% of revenue. GAAP diluted EPS for the third quarter was $0.03 compared to GAAP diluted EPS of $0.03 for the third quarter 2013; non-GAAP diluted EPS for the third quarter was $0.52, compared to non-GAAP diluted EPS of $0.39 for the third quarter of 2013. Income from operations was $8.603 million against $4.636 million a year ago. Income before income taxes was $8.755 million against $4.792 million a year ago. Net cash provided by operating activities was $181.226 million against $126.026 million a year ago. Purchases of property and equipment were $120.721 million against $83.158 million a year ago. Payments for intangible assets and acquisitions, net of cash acquired were $160.894 million against $8.756 million a year ago.
LinkedIn is providing guidance for the fourth quarter and full year of 2014. For the fourth quarter, revenue is expected to range between $600 million and $605 million. Adjusted EBITDA is expected to range between $153 million and $155 million. Non-GAAP EPS is expected to be approximately $0.49. The company expects depreciation of approximately $59 million, amortization of approximately $12 million, stock-based compensation of approximately $96 million, and 127 million fully-diluted weighted shares.
For the full year 2014, revenue is expected to range between $2.175 billion and $2.180 billion. Adjusted EBITDA is expected to range between $566 and $568 million. Non-GAAP EPS is expected to be approximately $1.89. The company expects depreciation of approximately $203 million, amortization of approximately $34 million, stock-based compensation of approximately $321 million, and 126 million fully-diluted weighted shares.