The stock price of LinkedIn Corp (NYSE:LNKD) closed $180.64 per share down by more than 3%, but the stock recovered after the company released its second-quarter financial results showing strong revenue growth.
The shares of LinkedIn Corp (NYSE:LNKD) surged almost 8% to $195 per share during the extended hours trading around 4:49 in the afternoon in New York today, July 31.
Second-quarter financial results
LinkedIn Corp (NYSE:LNKD) reported that its revenue increased 47% to $534 million from $364 million for the second quarter.
According to the world’s largest professional network, its net loss attributable to common stockholders was $ 1 million compared with a net income of $3.7 million in the year-ago quarter.
Its Non-GAAP Net income was $63 million compared with the $44 million recorded in the same period a year earlier. LinkedIn Corp (NYSE:LNKD) said its adjusted EBITDA was $145 million or 27% of revenue for the quarter.
LinkedIn Corp (NYSE:LNKD) generated non-GAAP earnings of $0.51 per diluted share, up from $0.38 per diluted share in the same period last year.
In a statement, Jeff Weiner, CEO of LinkedIn Corp (NYSE:LNKD) said, the company “delivered strong financial results in the second quarter while maintaining investment in our member and customer offerings.”
“We made significant progress against several key strategic priorities including increasing the scale of job opportunities on LinkedIn; expanding our professional publishing platform; and continuing the strategic shift towards content marketing through Sponsored Updates,” added Weiner.
Third quarter and full-year 2014 outlook
For the third-quarter, LinkedIn Corp (NYSE:LNKD) predicted that it would be able to achieve revenue in the range of $543 million to $547 million. Its adjusted EBITDA is expected to be around $134 million to $136 million and non-GAAP earning around $0.44 per share.
For the full-year 2014, LinkedIn Corp (NYSE:LNKD) expected to deliver revenue in the range of $2.14 billion to $2.15 billion, adjusted EBITDA between $545 and $550 million. The company estimated to deliver non-GAAP earnings of $1.80 per share.
