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LinkedIn Revenues Up 136% To $558 Million Per Year
According to the recent third quarter financial reports for the online company Linked In, which seeks to bring jobs and employees together, their revenues have risen 126% however their share price has gone 2 cents per shares which caused the unhappy investors to send the stock price down by 7%.
Here’s what the Linked In company thinks about the 3rd quarter financial reports despite what investors thought:
“LinkedIn CFO Steve Sordello said in a statement the company was happy with the revenue growth: “LinkedIn plans to maintain a long-term perspective with investment in our key strategic areas.” Despite the after-hours decline, the results beat analysts’ expectations of a loss of 4 cents a share and revenues of about $128 million.”
Linked In has recently acquired 131.2 million members, which tells us that despite the financial reports and investors talk, the people are still interested in Linked In and it will probably continue to grow even more than the over 60% jump in users it has had in the past year.
“Investors were watching LinkedIn’s 3Q results closely since its stock has maintained a price roughly double what it was when the company offered shares to the public in April. LinkedIn’s $9 billion valuation is now about 18 times this year’s projected annual revenues of around $510 million.”
It will be interesting to see what the Linked In company’s financial reports for the entire year have to say for themselves. Though investors may be concerned about the prices per share going down, it seems that Linked In is going to continue to be successful. The company itself is pleased with the 3rd quarter reports and also the fact that the user base has grown so dramatically in the past year says a lot about the company’s success. We can only hope a company that brings people together in the fight to find jobs in such an unstable economy, will continue to succeed.