LinkedIn Corp. (NASDAQ: LNKD) shares soared after the company posts second-quarter earnings that topped estimates and provides healthy sales and earnings guidance.
Excluding certain items, earnings were 74 cents per share in the first quarter, topping analysts’ estimate of 60 cents per share.
The company expected the second-quarter earnings, excluding some items, to be between 74 cents and 77 cents a share. Analysts had projected earnings of $0.71 a share.
The company also lifted its full-year revenue guidance to $3.65 billion to $3.70 billion, from previous guidance of $3.6 billion to $3.65 billion. Analysts expected $3.7 billion.
Hiring revenue rose 27 percent to $502 million compared with a year ago. Marketing Solutions rose 29% to $154 million, and Premium Subscriptions rose 22% to $149 million. Learning (formerly Lynda.com) revenue totaled $55 million.
"LinkedIn delivered strong financial results and growth across our core product lines," Jeff Weiner, LinkedIn CEO, said in the company's Thursday release. "As a result of our new mobile experience, members are increasing their activity on LinkedIn, helping drive strong levels of engagement across the platform."
LinkedIn shares rose 6.59 percent to $122.94 in after-hours trading. The stock had dropped more than 40 percent when it reported its fourth-quarter results in February.