LinkedIn Losing Friends On Wall Street

MOUNTAIN VIEW (CBS SF) - Its been a brutal week for social media stocks, with LinkedIn (LNKD) joining Twitter and Yelp in big beatdowns on their earnings reports.

Each of the social media properties lost around a fifth of its market value in a single day of trading.

Mountain View-based LinkedIn is getting hammered after it offered weaker than expected guidance for the current quarter and full year, with the professionally-oriented social networker blaming the stronger dollar impacting overseas advertising, as well as a shift in clients to its newer products, impacting its Market Solutions revenue.

LinkedIn did top expectations in the first quarter with revenue up nearly 35-percent to $637-million, but it didn't provide an update to its user base other than repeating the 350-million number that was stated in the prior quarter.

Read more
f

We and our partners use cookies to understand how you use our site, improve your experience and serve you personalized content and advertising. Read about how we use cookies in our cookie policy and how you can control them by clicking Manage Settings. By continuing to use this site, you accept these cookies.