LinkedIn Announces Higher Profit; Plans to Acquire SlideShare – NYSE:LNKD

Linkedin Corporation (NYSE:LNKD) released an upbeat quarterly earnings report on Thursday and stated it intends to acquire presentation service SlideShare in a $118.8 million agreement as the online professional networking service continues its growth.

The SlideShare purchase is comprised of almost 45% cash and 55% stock, and is scheduled to complete this quarter, LinkedIn stated. Founded in 2006, SlideShare hosts in excess of seven million presentations and fits LinkedIn’s mission of “making professionals more productive,” executives stated during a conference call.

Revenue has soared at LinkedIn, which sells recruiting tools to businesses and offers premium subscriptions to users keen to network. The firm went public last year, touching off a wave of Internet-related IPOs that comprises peer Facebook Inc., which is likely to complete a public offering of its own afterward this month.

LinkedIn stated that its Q1 profit came in at $5 million, or four cents per share, higher from $2.1 million, or break-even on a per-share basis, in the period a year before. Exclusive of special items, earnings increased to 15 cents per share. Analysts surveyed by Thomson Reuters had anticipated earnings of nine cents per share.

Net revenue in the quarter in excess of doubled to $188.5 million, LinkedIn announced.

Revenue from LinkedIn’s premium subscriptions, which offer additional features, rose 91% to $37.9 million. In the meantime, revenue produced by the company’s recruiting tools sold to businesses more than doubled to $102.6 million.

LinkedIn stated that it has currently attracted 161 million members, as compared with the approximately 150 million declared in the previous period.

Its shares gained 7.21% to close at $117.30 in Friday’s session. LinkedIn went public in May, valued at $45 per share.

 

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9 Responses to LinkedIn Announces Higher Profit; Plans to Acquire SlideShare – NYSE:LNKD

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