LinkedIn stock takes a hit after weaker-than-expected 2nd-quarter guidance

Published April 30, 2015
Associated Press

Shares of LinkedIn Corp. are diving Thursday after the professional networking service gave a disappointing second-quarter outlook.

LinkedIn said the weak view was due to changes in currency exchange rates, costs of its pending acquisition of online learning company Lynda.com and other items.

The $1.5 billion deal announced earlier this month is by far the largest in LinkedIn's history.

For this quarter, Mountain View, California-based LinkedIn expects adjusted earnings of 28 cents per share on revenue of $670 million to $675 million.

Analysts are forecasting much higher adjusted earnings of 74 cents per share on revenue of $719.3 million, according to a poll by FactSet.

LinkedIn's stock tumbled $63.93, or 25 percent, to $188.20 in extended trading. The stock had closed down 2 percent.