LinkedIn posts 1Q loss as expenses rise
SAN FRANCISCO (AP) — LinkedIn suffered a first-quarter loss as the online professional networking service ramped up its investments in projects aimed at attracting more users on the lookout for better jobs and career advice.
Despite the setback, the results announced Thursday surpassed the analyst estimates that sway investors. LinkedIn has cleared Wall Street’s financial hurdles in all 12 of its quarters as a public company.
Nevertheless, LinkedIn Corp. has fallen out of favor with investors amid concerns about the company’s rising expenses and slowing revenue growth.
LinkedIn’s stock dipped almost 3 percent in Thursday’s extended trading after the latest numbers came out.
This year’s first-quarter loss translated into 11 cents per share. That contrasted with earnings 20 cents per share last year.
Revenue rose 46 percent to $473 million.