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LinkedIn To Buy SlideShare As 1Q Beats Estimates

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A sign outside LinkedIn headquarters in Mountain View. (Justin Sullivan/Getty Images)

A sign outside LinkedIn headquarters in Mountain View. (Justin Sullivan/Getty Images)

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.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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