LinkedIn Corp. reported a loss of $42.5 million in its first quarter.
The Mountain View, California-based company said it had a loss of 34 cents per share. Earnings, adjusted for one-time gains and costs, came to 57 cents per share.
The results met Wall Street expectations. The average estimate of 22 analysts surveyed by Zacks Investment Research was also for earnings of 57 cents per share.
The online professional networking company posted revenue of $637.7 million in the period, topping Street forecasts. Eighteen analysts surveyed by Zacks expected $637.5 million.
For the current quarter ending in June, LinkedIn expects its per-share earnings to be 28 cents.
The company said it expects revenue in the range of $670 million to $675 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $720.1 million.
LinkedIn expects full-year earnings to be $1.90 per share, with revenue expected to be $2.9 billion.
LinkedIn shares have risen roughly 10 per cent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $252.13, a climb of 64 per cent in the last 12 months.
The Canadian Press
