LinkedIn shares fall sharply as it reports Q1 earnings May 1, 2015 - 13:58 AMT PanARMENIAN.Net - Shares of business social network site LinkedIn have fallen sharply in after-hours trading after it reported its first quarter earnings, according to BBC News. The company also said it expected to make between $670mln and $675mln in the three months to June, less than the $718mln that had been expected. It blamed the stronger U.S. dollar and costs related to the purchase of the U.S. online business Lynda. LinkedIn announced it was buying the company for $1.5bn last month. Chief financial officer Steve Sordello said he expected revenue contribution from the purchase to "normalize" in the second half of 2016. Its New York listed stock was down as much as 25% to $188.20 in extended trading. The disappointing forecasts came as the company reported that its net loss for the first quarter widened to $43m. That compares to a loss of $13mln for the first quarter of 2014. However, revenue grew 35% in the period to $638m. Chief executive Jeff Weiner described the quarter as "solid" and one in which the company "maintained steady growth". Related links:   Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020."   Partner news Most popular in the section |  Latest news Protesters rally as Georgia debates 'foreign agent' bill  Georgian critics label the bill "the Russian law", comparing it to legislation used by the Kremlin to crack down on dissent.Former Pashinyan envoy urges end to Genocide speculation Marukyan has urged authorities in Armenia stop discussions about verifying the names of 1.5 million victims.Azerbaijan, Jordan sign deal on defense cooperation Azerbaijan and Jordan have signed an agreement on cooperation in the field of defense, according to an official statement.First Canadian expert join EU mission in Armenia The first Canadian expert to join the European Union’s civilian mission in Armenia has arrived in Armenia. |
