LinkedIn Results Beat Expectations Ahead of Microsoft Dealby
LinkedIn Corp. reported earnings and revenue that were higher than analysts expected, after the company negotiated a $26.2 billion sale to Microsoft Corp.
- LinkedIn said second-quarter revenue was $933 million, up 31 percent from a year earlier. The average analyst estimate was $899 million.
- Earnings, excluding some items, were $1.13 cents per share in the second quarter, compared with analysts’ projection of 78 cents.
The Big Picture
This may be LinkedIn’s last earnings report as an independent company, before it joins Microsoft in one of the largest technology industry deals on record. The company started the deal process after earlier this year reporting that it would grow more slowly than expected, causing its shares to drop more than 40 percent in a day. Combining with Microsoft may help LinkedIn get its profiles more at the center of people’s work lives, giving them information about the person they’ve scheduled a meeting with through Microsoft’s Outlook e-mail and calendar service, for example.