LinkedIn shares rocketed nearly 10% overnight after the business-focused social networking site posted bumper quarterly profits yesterday.
The stock, which closed the day at $109.41, jumped a further 8.5% in after hours trading, hitting $119.80 after its results were released showing revenues had doubled. The figures showed first quarter revenue was 101% higher than last year, at $188.5m (£116.5m), compared to $93.9m in the first quarter of 2011. Net income for the first quarter doubled from $2.1m to $5m. The positive results are the seventh consecutive quarter of growth above 100%. "LinkedIn's solid performance in the first quarter built on the company's momentum in 2011," said Jeff Weiner, CEO of LinkedIn. "We sa...
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