Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Looks like a very nice report out of LinkedIn (LNKD) after the bell. Analysts were looking for $178.6M and 9 cents. The company reported $188.5M and 15 cents. Year over year revenue growth of 101%. Guidance for next quarter is $210-$215M versus analyst’s $208M. Guidance for the year goes up from $840-$860M to $880-$900M. Analysts were already at $877M (above LNKD’s old guidance) for the year. The stock is all over the place in after hours but definitely up – flipping around like a fish out water in the $115-$120 range, after a close near $110. if you are curious the stock debuted in May 2011 and topped out at $122.70 that day. Full report here.
- Revenue for the first quarter was $188.5 million, an increase of 101% compared to $93.9 million in the first quarter of 2011.
- Net income for the first quarter was $5.0 million, compared to net income of $2.1 million for the first quarter 2011. Non-GAAP net income for the first quarter was $16.9 million, compared to $5.8 million for the first quarter of 2011. Non-GAAP measures exclude tax-affected stock-based compensation expense and tax-affected amortization of acquired intangible assets.
Revenue breakdown
- Hiring Solutions: Revenue from Hiring Solutions products totaled $102.6 million, an increase of 121% compared to the first quarter of 2011. Hiring Solutions revenue represented 54% of total revenue in the first quarter of 2012, compared to 49% in the first quarter of 2011.
- Marketing Solutions: Revenue from Marketing Solutions products totaled $48.0 million, an increase of 73% compared to the first quarter of 2011. Marketing Solutions revenue represented 26% of total revenue in the first quarter of 2012, compared to 30% in the first quarter of 2011.
- Premium Subscriptions: Revenue from Premium Subscriptions products totaled $37.9 million, an increase of 91% compared to the first quarter of 2011. Premium Subscriptions represented 20% of total revenue in the first quarter of 2012, compared to 21% of revenue in the first quarter of 2011.
- Revenue from the U.S. totaled $120.8 million, and represented 64% of total revenue in the first quarter of 2012. Revenue from international markets totaled $67.6 million, and represented 36% of total revenue in the first quarter of 2012.
Guidance
- Q2 2012 Guidance: Revenue for the second quarter of 2012 is projected to range between $210 million to $215 million. The company expects adjusted EBITDA to range between $40 million and $42 million. The company expects depreciation and amortization to range between $18.5 million and $19.5 million, and stock-based compensation to range between $18 million and $19 million.
- Full Year 2012 Guidance: The company has revised upward its expected revenue range to $880 million to $900 million from the prior range of $840 million to $860 million. The company has also revised upward its expected adjusted EBITDA range to $170 million to $175 million from the prior range of $155 million to $165 million. The projected range for depreciation and amortization has increased to $75 million to $85 million from $70 million to $80 million, and stock-based compensation has increased to $80 million to $90 million from $65 million to $75 million.
[Apr 26, 2012: IBD Takes a Closer Look at LinkedIn]
Disclosure Notice
Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). For a list of the aforementioned fund’s holdings at the end of the prior quarter, visit the Paladin Funds website at http://www.paladinfunds.com/holdings/blog
