LinkedIn Shares Fall After Releasing Q1 2015 Report
LinkedIn shares have fallen sharply in after-hours trading after the company reported its Q1 2015 earnings.
The business social network site also said it expected to make between $670 million and $675 million in the three months to June, less than the $718 million that had been expected.
The company blamed the stronger US dollar and costs related to the purchase of the online business Lynda.
LinkedIn announced it was buying Lynda for $1.5 billion last month.
CFO Steve Sordello said he expected revenue contribution from the purchase to “normalize” in the second half of 2016.
LinkedIn’s New York listed stock was down as much as 25% to $188.20 in extended trading.
The disappointing forecasts came as LinkedIn reported that its net loss for Q1 2015 widened to $43 million.
That compares to a loss of $13 million for Q1 2014.
However, revenue grew 35% in the period to $638 million.
LinkedIn CEO Jeff Weiner described the quarter as “solid” and one in which the company “maintained steady growth”.