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LinkedIn Gains as Sales Forecasts Top Estimates on Job Tools
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LinkedIn Corp., the biggest professional-networking website, rose the most in almost six months after forecasting sales that topped estimates as it adds users and makes more money from recruitment services.
Third-quarter revenue will be $235 million to $240 million, Mountain View, California-based LinkedIn said in a statement yesterday. Full-year sales will be $915 million to $925 million, ahead of the $880 million to $900 million it projected in May. Analysts on average were predicting third-quarter sales of $236.3 million and 2012 revenue of $906.3 million, according to data compiled by Bloomberg.