LinkedIn Drops as Sales Forecast Trails Analyst Estimates
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LinkedIn Corp., the biggest professional-networking site, slid 9.3 percent after issuing a sales forecast that trailed analysts’ estimates and reporting slowing growth in all three businesses.
Revenue in the fourth quarter will be $415 million to $420 million, trailing analysts’ average projection of $438.9 million, according to data compiled by Bloomberg. Sales in the third quarter climbed 56 percent to $393 million, the Mountain View, California-based company said in a statement yesterday, down from growth of 81 percent in the same period a year ago.