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Technology / Data

LinkedIn’s first quarter results shatter analyst expectations

LinkedIn’s revenue of $189m and $0.15 per share beat analyst expectations of the professional network making $179m and $0.09 in the first quarter.

First quarter revenue results have increased by 101% from last year’s first quarter results.

LinkedIn expects their revenue for the 2012 second quarter to be between $210m – $215m with total 2012 revenue ranging between $880m – $900m.

The company’s net income for the first quarter was $5.0m, up from last year’s net income of $2.1 million for the first quarter in 2011.

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LinkedIn’s solid performance in the first quarter built on the company’s momentum in 2011," said Jeff Weiner, CEO of LinkedIn. "We saw strength across all key metrics from member signups and engagement to significant revenue growth across our three product lines."

Revenue from the U.S brought in the majority of revenue for LinkedIn representing 64% of overall revenue totalling $120.8m for the 2012 first quarter. International markets made up 36% of LinkedIn’s overall revenue coming to $67.6m.

LinkedIn has also seen consistent growth success since its launch, boasting the 7th straight quarter of growth over 100%.

"LinkedIn grew over 100% for the seventh consecutive quarter and achieved records for adjusted EBITDA, operating and free cash flow," said Steve Sordello, CFO of LinkedIn. "We remain focused on investing in our technology and product platform as well as expanding our business in new international markets and customer segments."

LinkedIn recently acquired the content community sharing site, Slideshare for $118.75m.

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