LinkedIn To Buy SlideShare As 1Q Beats Estimates

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 This material may not be published, broadcast, rewritten, or redistributed.)

blog comments powered by Disqus
Guide To The Holidays
Shine A Light On The Holiday Season With ‘Giving Tuesday’

Listen Live