Home Business LinkedIn Shares Fall After Releasing Q1 2015 Report

LinkedIn Shares Fall After Releasing Q1 2015 Report

0

LinkedIn shares have fallen sharply in after-hours trading after the company reported its Q1 2015 earnings.

The business social network site also said it expected to make between $670 million and $675 million in the three months to June, less than the $718 million that had been expected.

The company blamed the stronger US dollar and costs related to the purchase of the online business Lynda.

LinkedIn announced it was buying Lynda for $1.5 billion last month.LinkedIn earnings 2015

CFO Steve Sordello said he expected revenue contribution from the purchase to “normalize” in the second half of 2016.

LinkedIn’s New York listed stock was down as much as 25% to $188.20 in extended trading.

The disappointing forecasts came as LinkedIn reported that its net loss for Q1 2015 widened to $43 million.

That compares to a loss of $13 million for Q1 2014.

However, revenue grew 35% in the period to $638 million.

LinkedIn CEO Jeff Weiner described the quarter as “solid” and one in which the company “maintained steady growth”.

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.

NO COMMENTS

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.