LinkedIn Beats Expectations, But Stock Slips As Insiders Sell Off

LinkedIn

Photo: LinkedIn via flickr

LinkedIn’s third-quarter numbers are out!The professional online networking company crushed Wall Street expectations with nearly $140 million in third-quarter revenue.

LinkedIn also said it would sell up to $500 million in stock — $100 million from the company and the remainder from existing shareholders.

Wall Street was obviously hoping for more. LinkedIn shares tanked in extended trading. They were down 10 per cent at 5:10 p.m. EST.

Here are some of the highlights:

  • Revenue: $139.5 million vs. $128 million consensus Wall Street expectations
  • EPS: Loss of $0.02 GAAP vs. loss of $0.04 GAAP consensus Wall Street expectations
  • Users: 131.2 million, from 116 million at the end of June
  • Unique visitors: 87.6 million, from 82 million at end of June
  • Q4 Revenue Guidance: $154 million to $158 million vs. $148 million consensus Wall Street expectations
  • FY2011 Revenue Guidance: $508 to $512 million

LinkedIn brought in $61.8 million in revenue in the third quarter last year, making $4 million in income off that.

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