Linkedin Corporation (NYSE:LNKD) shares are seeing heavy selling pressure in after-hours following the company reported third quarter loss after being profitable during the second quarter. Losses came despite the strong 126% jump in its revenue, which also beat analysts’ estimates. Moreover, the company lifted its full year outlook.
The company reported a loss of $1.6 million or 4 cents a share, reversing a quarter ago profit of $4 million. On an adjusted the company would have earned 6 cents a share, whereas analysts were estimating the company to break even.
Revenue during recent quarter grew 126% sequentially to $139 million.
The company now projects to report $83 million to $85 million on revenue of $508 million to $512 million, up from its previous guidance of EBITDA profit of $65 million and $70 million and revenue of $475 million to $485 million.
The stock debut on the stock exchange in May and saw its share price soaring more than 108% in the first day from its IPO price of $45.
Shares of LNKD plunged $7.50 or 8.57% to $80.00 on high in extended hours after rising 3.55% in the regular session.
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