NEW YORK–LinkedIn Corp. posted a loss for the third quarter on Tuesday, but the results were stronger than Wall Street expected as the professional networking service boosted its user base and increased revenue.
Such results have become routine for LinkedIn. The company has surpassed analysts’ expectations in each of its 10 quarters as a publicly traded company. Its outlook for the current quarter, however, was below estimates and its stock fell in extended trading after the results were released.
LinkedIn lost US$3.4 million, or 3 cents per share, in the July-September period compared with earnings of US$2.3 million, or 2 cents per share, in the same period a year ago. Adjusted earnings were US$46.8 million, or 39 cents per share, in the latest quarter, which beat analysts’ expectations by 7 cents.
Revenue rose 56 percent, to US$393 million from US$252 million. Analysts predicted US$384.8 million, according to FactSet.