MOUNTAIN VIEW (CBS/AP) – LinkedIn Corp. says its first-quarter profit more than doubled, and the business networking company is buying presentation sharing website SlideShare for $118.8 million.
Shares jumped $10.59, or 9.7 percent, to $120 in extended trading.
The Mountain View company says net income in the three months to March 31 was $5 million, or 4 cents per share, from $2.1 million, or break-even per share, a year ago.
Excluding stock-based compensation expenses and other items, profit was 15 cents per share, beating the 9 cents expected by analysts polled by FactSet.
Revenue doubled to $188.5 million from $93.9 million, topping the $179 million analysts were looking for.
LinkedIn in buying San Francisco-based SlideShare with cash and stock.
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