LinkedIn Corp. (NYSE: LNKD) reported firstquarter 2013 results after markets closed today. For the quarter, the professional social networking company posted adjusted diluted earnings per share (EPS) of $0.45 on revenues of $324.7 million. In the same period a year ago, the company reported EPS of $0.15 on revenues of $188.5 million. First-quarter results compare to the Thomson Reuters consensus estimates for EPS of $0.31 and $317.08 million in revenues.
On a GAAP basis, LinkedIn reported quarterly diluted EPS of $0.20, compared EPS of $0.04 in the year-ago quarter.
LinkedIn now claims more than 225 million members, which is up from 200 million in early January. At the end of the first quarter, membership totaled 218 million.
For the second quarter, the company guided revenue to a range of $342 to $347 million and adjusted EBITDA to a range of $77 to $79 million. For the full year, the company expects revenues of $1.43 to $1.46 billion, an upward revision of $20 million. Full-year adjusted EBITDA is expected to rise by $15 million, to $330 to $345 million.
The consensus analysts' forecast for the second quarter calls for revenues of $359.24 million and EPS of $0.31. For the full year EPS is pegged at $2.07 on revenues of $1.49 billion. LinkedIn's failure to match or beat that revenue figure pasted the stock after the report was released.
The company's CEO said:
Q1 was a strong quarter for LinkedIn with member engagement and financial results reaching record levels. We remained focused on delivering great products that increasingly make LinkedIn the essential daily resource for global professionals.
Shares are trading down nearly 7.5% at $186.81 in after-hours trading today, in a 52-week range of $88.00 to $202.91. Thomson Reuters had a consensus analyst price target of around $176.50 before today's report.
Filed under: 24/7 Wall St. Wire, Earnings, Internet Tagged: featured, LNKD