LinkedIn is crashing after weak earnings guidance
The social network for professionals said it expects first-quarter adjusted earnings-per-share of $0.55, but analysts had estimated $0.75 according to Bloomberg.
It projected full-year revenues at $3.6 billion to $3.65 billion, versus $3.9 billion expected.
LinkedIn reported revenues of $861.9 million for the fourth quarter, and its earnings loss was six cents a share, or $8.4 million.
It recorded year-over-year growth in revenues in its major business segments, including a 22% rise in premium subscriptions.
The company said in its earnings release that the number of cumulative members grew 19% to 414 million, with mobile visits now making up 57% of all traffic. In December, it launched an improved version of its app.
Over the past year, LinkedIn shares have fallen about 37%.
Here's the drop in after-hours trading:
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