(The Canadian Press) SAN FRANCISCO _ LinkedIn's (NASDAQ: LNKD
, Stock Forum
) second-quarter net income rose 33% as the online professional networking service's membership growth accelerated.
The performance announced Thursday burnished the impressive resume that LinkedIn has put together since going public two years ago. The company has delivered earnings and revenue above the analysts' projections that guide investors in all nine quarters as a publicly traded company.
That track record has helped propel LinkedIn Corp.'s stock nearly fivefold from its IPO price.
The Mountain View, Calif., company earned $3.7 million, or 3 cents per share, during the quarter, from $2.8 million, or 3 cents per share, last year.
Revenue surged by 59 per cent to $364 million, the company said in a release.
Adjusted profit and sales beat Wall Street predictions.
LinkedIn ended June with 238 million members, up from 218 million in March.
LinkedIn results were released after the close of trading Thursday, when the stock rose 4.5% to $213, leaving a market cap of $23.5 billion, based on 110.4 million shares outstanding. The 52-week range is $209.39 and $91.67.