Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of business-focused social network LinkedIn (NAS: LNKD) had their rocket thrusters on today, gaining as much as 10% in intraday trading after the company reported first-quarter results.
So what: As you might expect from the stock action, LinkedIn's first-quarter numbers were much better than expected. Revenue for the quarter more than doubled from a year ago to $189 million. On the bottom line, non-GAAP earnings per share were up a cool 150% to $0.15. Wall Street was looking for EPS of $0.09 on sales of $179 million.
Now what: But wait -- it gets better! The company also boosted its full-year outlook, taking its expected revenue range from a midpoint of $850 million up to $890 million. Management's EBITDA outlook -- at the midpoint -- improved 8% to $173 million. The revenue outlook was better than the $877 million that analysts had expected.
In a nod toward non-organic growth, LinkedIn also announced that it's spending nearly $120 million in cash and stock to buy SlideShare, described as "a leading professional content sharing community."
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