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Friday, April 16, 2021

LinkedIn misses Street 4Q forecasts

MOUNTAIN VIEW, Calif. (AP) _ LinkedIn Corp. (LNKD) on Thursday reported fourth-quarter earnings of $3 million.

On a per-share basis, the Mountain View, California-based company said it had profit of 2 cents. Earnings, adjusted for stock option expense and amortization costs, came to 61 cents per share.

The results missed Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.

The online professional networking company posted revenue of $643.4 million in the period, also falling short of Street forecasts. Twelve analysts surveyed by Zacks expected $861.3 million.

For the current quarter ending in April, LinkedIn expects its per-share earnings to be 55 cents.

The company said it expects revenue in the range of $820 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $868.2 million.

LinkedIn expects full-year earnings in the range of $3.05 to $3.20 per share, with revenue ranging from $3.6 billion to $3.65 billion.

LinkedIn shares have dropped 15 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $192.28, a fall of 17 percent in the last 12 months.

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