LinkedIn corporation delivered revenue forecasts that fell in need of Wall Street's expectations, deflating hopes that the high-flying skilled social network will sustain its growth streak and causation its stock eight % lower.
On weekday, the social network double-geared towards connecting professionals with prospective employers additionally declared it might pay $120 million in money and stock to shop for on-line job search service Bright, that it aforementioned ought to facilitate improve on-line matches whereas broadening its user base.
LinkedIn has crushed top-line targets quarterly since the corporate went public in 2011. Its priority is currently finding ways in which to create cash out of the company's mobile applications through options like "sponsored updates," whereas increasing its user base internationally.
LinkedIn's membership climbed seven % to 277 million worldwide, from 259 million at the top of the third quarter. however that pace slackened slightly from nine % in every of the 2 previous quarters.
Mobile users currently account for forty one % of its members, from thirty eight % within the third quarter and a mere eight % in early 2011.
LinkedIn announce a twenty % rise in non-GAAP net profit to $48.2 million in a pair of013's fourth quarter, on better-than-expected revenue of $447.2 million.
But its revenue outlook for the primary quarter and for the total 2014 year each lost analysts' expectations.
It forecast 2014 revenue of between $2.02 billion and $2.05 billion, compared to the typical analyst expectation of $2.16 billion, per Thomson Reuters I/B/E/S.
For the primary quarter, the company's sales outlook of $455 million to $460 million additionally came in below the $470 million expected by analysts.
Shares of LinkedIn were down eight % at $205.51.