LinkedIn Surges as New Businesses Lift Sales Above Estimates
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LinkedIn Corp.’s addition of new businesses, such as news content and client-management services for salespeople, lifted third-quarter sales and profit above analysts’ estimates. The shares soared as much as 14 percent.
Revenue rose 45 percent to $568.3 million, the Mountain View, California-based company said yesterday in a statement. Profit excluding certain costs was 52 cents a share. Analysts on average had projected sales of $557.7 million and profit of 47 cents, according to data compiled by Bloomberg.