Feeds

Facebook-for-suits biz LinkedIn shares drop on weakened 2014 outlook

Rushes out and buys startup to bolster job vacancy biz

Beginner's guide to SSL certificates

Shares in business networking site LinkedIn have dropped 7.8 per cent in after-hours trading, struggling back from an earlier low of 15 per cent, after it predicted weaker-than-expected results for the first quarter.

The professional network said that it now anticipates revenue in the quarter of between $455m and $460m, falling behind analyst projections of around the $469m mark.

The fall in share price follows the drubbing Twitter took in the markets yesterday, when the microblogging site lost around a quarter of its value within minutes of the start of trading in New York after it also reported disappointing results.

For the fourth quarter, LinkedIn said that revenue grew by nearly 50 per cent to $447.2m compared to the same time last year. But net income plummeted to $3.8m, compared to $11.5m in the fourth quarter of 2012.

The site is running into the usual trouble of social networks in monetising growing mobile traffic, but it has been making moves to try to find new sources of revenue. The company is investing heavily in its job vacancy service, announcing that it has just paid around $120m for Bright Media, a startup that uses algorithms to match candidates with potential employers.

LinkedIn chief exec Jeff Weiner also said that the network is planning to expand into China and has appointed a new head of operations there.

"We are investing significantly in a focused number of long-term initiatives that will allow us to realise our vision to create economic opportunity for every member of the global workforce," he said in a statement. ®

Remote control for virtualized desktops

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
Hungary's internet tax cannot be allowed to set a precedent, says EC
More protests planned against giga-tariff for Tuesday evening
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.
Website security in corporate America
Find out how you rank among other IT managers testing your website's vulnerabilities.