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May 1, 2015

LinkedIn Q1 loss widens, cuts revenue forecast

Second-quarter revenue is expected to be in the range of $670m to $675m.

By CBR Staff Writer

LinkedIn has reported a net loss of $43m, or $0.34 per share, for the first quarter of 2015, compared to $13m, or $0.11 per share, posted in last year’s quarter.

Revenue of the career networking website has however increased 35% to $638m in Q1, compared to $473m for the same period last year.

Revenues from talent solutions products increased 36% to $396m, while revenue from marketing solutions products grew 38% to $119m. Revenue from premium subscriptions products surged 28% to $122m.

US revenue of $389m comprised 61% of the company’s total revenue in Q1, while international revenue of $248m represented the remaining 39%.

Revenue from the field sales channel was $393m and online channel sales revenue totalled $244m.

LinkedIn CEO Jeff Weiner said, "Q1 was a solid quarter in which we made meaningful progress against our multi-year strategic roadmap.

"During the quarter, we maintained steady growth in member engagement while achieving strong financial results."

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Commenting on the results, LinkedIn CFO Steve Sordello said: "This performance comes amidst the backdrop of several important strategic investments to better position the business to execute on our long-term roadmap."

The company, which has over 350 million users globally, expects its second-quarter revenue to be in the range of $670m and $675m and full-year revenue to be about $2.90bn.

LinkedIn has earlier this month agreed to acquire privately-held online education company lynda.com for about $1.5bn.

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