LinkedIn Q1 earnings soar; ups outlook, acquires SlideShare

Summary:LinkedIn jumps over Wall Street expectations with another solid quarterly earnings report, giving the professional the opportunity to boost its outlook.

LinkedIn has turned out another successful quarter, leaving it with some extra cash to go startup shopping.

The Mountain View, Calif.-based company reported a net income of $5 million in the first quarter, or 4 cents a share (statement). Non-GAAP earnings were 15 cents a share on a revenue of $188.5 million.

Wall Street expected the company to report earnings of 9 cents a share on revenue of $178.6 million.

Chief executive Jeff Weiner said in prepared remarks:

LinkedIn’s solid performance in the first quarter built on the company’s momentum in 2011. We saw strength across all key metrics from member signups and engagement to significant revenue growth across our three product lines.

For the outlook, LinkedIn is predicting a revenue of $210 million to $215 million at the end of Q2 2012.

Last quarter, LinkedIn predicted it was expecting revenue to fall between $840 million and $860 million for 2012 overall. This time, LinkedIn bumped up the outlook, expecting between $880 million and $900 million.

Additionally, LinkedIn announced plans to acquire SlideShare, a professional content sharing community, for about $118.75 million. The deal breaks down to roughly 45 percent cash and 55 percent stock, and is expected to close during the second quarter of this year.

Currently, SlideShare hosts more than nine million presentations, and in March it reportedly had 29 million unique visitors.

Related:

Topics: Banking, Social Enterprise

About

Rachel King is a staff writer for CBS Interactive based in San Francisco, covering business and enterprise technology for ZDNet, CNET and SmartPlanet. She has previously worked for The Business Insider, FastCompany.com, CNN's San Francisco bureau and the U.S. Department of State. Rachel has also written for MainStreet.com, Irish Americ... Full Bio

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