LinkedIn doubles revenue, beats growth estimates
SAN FRANCISCO -- LinkedIn (LNKD) is reporting a strong fourth quarter as the online professional networking service added 14 million members. Its net income and revenue beat Wall Street's expectations.
The results announced Thursday provided further evidence of online networking's popularity and moneymaking potential. LinkedIn Corp.'s performance could help create even more excitement for an upcoming initial public offering of stock from Facebook Inc., which runs the Internet's largest social network.
LinkedIn earned $6.9 million, or 6 cents per share, during the final three months of the year. That compares with income of $1.6 million, or 3 cents per share, a year earlier. Revenue more than doubled from the previous year to nearly $168 million.
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LinkedIn, which became a public company in May, ended December with 145 members, up from 131 million in September.
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