LinkedIn shares pop 10% as earnings easily beat

LinkedIn posted quarterly results that topped expectations Thursday as sales jumped and the company gained traction in China.

The professional social network reported third-quarter earnings of 78 cents per share on $780 million in revenue. Sales rose 37 percent from the previous year.

Analysts expected the company to post earnings of 46 cents per share on $756 million in revenue, according to a consensus estimate from Thomson Reuters.

LinkedIn shares rose as much as 12 percent in after-hours trading.

Cumulative members rose 20 percent from the previous year to 396 million. LinkedIn now has more than 13 million members in China, at least triple what it had early last year when it launched a local language version in the region.

Read MoreHow social media is making us less social: Study

Sales in its talent solutions segment rose nearly 50 percent to $502 million. Revenue in its premium subscriptions business also climbed by about 20 percent to $138 million.

It expects fourth-quarter revenue in a range of $845 million and $850 million, with non-GAAP earnings per share of 74 cents. For the full year, LinkedIn expects sales between $2.975 billion and $2.98 billion.

Leave a Reply

Your email address will not be published.