LinkedIn (LNKD) Beats Q2 Earnings, Reiterates Optimism on Microsoft (MSFT) Merger
LinkedIn Corp. LNKD just released its Q2 2016 earnings results, posting earnings of $0.06 per share and revenue of $933 million.
LNKD was up $0.63, or 0.33%, to $192.64 as of 4:17 PM ET in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted earnings of $0.06 per share (Excluding $0.95 from non-recurring items), beating the Zacks Consensus Estimate of -$0.06.
Beat revenue estimates. The company saw revenue figures of $933 million, beating our consensus estimate of $897 million.
Total revenue increased 31% year-over-year to $933 million.
Jeff Weiner, CEO of LinkedIn, stated that “We believe joining forces with Microsoft enables us to further accelerate and scale our ability to deliver value and create economic opportunity for every member of the global workforce.”
On June 11, 2016, LinkedIn entered into a merger agreement with Microsoft MSFT under which it will beacquired for $196.00 per share in an all-cash transaction valued at approximately $26.2 billion, inclusive of LinkedIn's net cash. A weaker earnings performance could have potentially decreased MSFT’s confidence in the deal, which is expected to close this fiscal year.
Here’s a graph that looks at LinkedIn’s latest earnings performance:
LINKEDIN CORP-A Price and EPS Surprise
LINKEDIN CORP-A Price and EPS Surprise | LINKEDIN CORP-A Quote
LinkedIn Corporation is an online professional network which allows members to create, manage, and share their professional identity online, build and engage with their professional network, access shared knowledge and insights, and find business opportunities. Its platform also provides members with applications and tools to search, connect, and communicate with business contacts, learn about career opportunities, join industry groups, research organizations, and share information. LinkedIn also offers services like hiring solutions, marketing solutions and other services. LinkedIn Corporation is headquartered in Mountain View, California.
Check back later for our full analysis on LinkedIn’s latest quarterly earnings report!
If you want information on how to trade during earnings season, check out the Zacks Market Edge Podcast below.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
MICROSOFT CORP (MSFT): Free Stock Analysis Report
LINKEDIN CORP-A (LNKD): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
