NEW YORK - Shares of Linkedin soared over 17% today as the company said revenue soared. LinkedIn Corporation (NYSE: LNKD), which is the world’s largest professional network on the Internet with more than 150 million members, reported its results yesterday after the close. Revenue increased by 105% to $168 million. Net income increased to $6.9 million from $5.3 million. For the full year 2011, revenue increased 115% to $522.2 million from $243.1 million and Earnings Per Share (EPS) increased to $12 million from $3 million.
There was only one whiner today regarding their results and that was CEO Jeff Weiner who said " It was a fitting end to a memorable year in which we reinforced our position as the pre-eminent professional network on the web.”
The company also updated its business outlook. The company expects revenue to be $170 to $175 million in Q1 and The company expects a loss in terms of net income. The company projects full year revenue to be $860 million and expects about $10 million of net income. This means the company trades at about an 800 PE.
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