LinkedIn Shares Plummet More Than 20% On Weak Outlook

By Wallace Witkowski Markets MarketWatch Pulse

LinkedIn Corp. shares dropped in the extended session Thursday after the social network's outlook fell well below Wall Street estimates. LinkedIn shares plummeted 22% to $149.73 on heavy volume. The company said it expects adjusted earnings of 55 cents a share in the first quarter on revenue of $820 million, and $3.05 to $3.20 a share for the year on revenue of $3.6 billion to $3.65 billion. Analysts surveyed by FactSet had estimated 75 cents a share on revenue of $868.3 million for the first quarter, and $3.70 a share on revenue of $3.91 billion for the year. For the fourth quarter, LinkedIn reported adjusted earnings of 94 cents a share on revenue of $861.9 million, while analysts were forecasting 78 cents a share on revenue of $857.3 million.

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