LinkedIn Q2 Profit Tops View - Update

(RTTNews) - LinkedIn Corp. (LNKD) on Thursday reported a loss for the second-quarter that widened from a year ago, hurt largely by higher operating costs. On an adjusted basis, earnings for the quarter improved and trumped Wall Street estimates, as revenues jumped 31 percent led by growth across all segments.

Mountain View, California-based LinkedIn's second-quarter loss widened to $119.3 million or $0.89 per share from $67.7 million or $0.53 per share last year.

Adjusted earnings were $1.13 per share, up from $0.55 per share last year. Analysts polled by Thomson Reuters estimated earnings of $0.78 per share.

Revenues for the quarter jumped 31 percent to $932.7 million from $711.7 million last year. Analysts had a consensus revenue estimate of $898.3 million.

Talent Solutions revenue increased 35 percent to $597 million, while marketing solutions revenue increased 29 percent to $181 million. Premium Subscriptions revenue increased 21 percent to $155 million.

In the quarter, LinkedIn's cumulative members grew 18 percent year-over-year to 450 million, unique visiting members grew 9 percent to an average of 106 million members a month, and member page views grew 32 percent.

Operating costs for the quarter rose to $938.3 million from $792.9 million last year.

LinkedIn did not update its full year outlook due to its pending merger. In June, Microsoft Corp. (MSFT) announced that it agreed to buy LinkedIn for $26.2 billion. The deal is expected to close by the end of the year, pending approvals.

LNKD closed Thursday's trading at $192.01, down $0.25 or 0.13% on the Nasdaq. The stock, however, gained $0.73 or 0.38% in the after-hours trade.