The Mountain View, California-based company cut its full-year outlook, forecasting a profit of $1.90 per share, excluding items, on revenue of about $2.90 billion, down from a previous forecast for earnings of $2.95 per share on revenue of $2.93 billion to $2.95 billion.įollowing the announcement Thursday, shares of LinkedIn plunged as much as 27 percent in after-hours trading to $183.32 after the stock had ended the day at $252.13. The company’s hiring subsidiary Talent Solutions, which accounts for 62 percent of LinkedIn’s total revenue, saw its revenue rise 36 percent in the quarter ended March 31. "Going forward, display will remain an important component of our product suite, albeit with lessening impact on the business." "We were particularly impacted in Europe, where the ongoing shift of programmatic advertising caused a drop in demand for our traditional display products," Steve Sordello, chief financial officer at LinkedIn, said during a call with shareholders Thursday. The company said spending on display ads fell 10 percent in the first three months of the year.
Linkedin stock drop professional#
(NYSE:LNKD) continued to plunge Friday, tumbling more than 20 percent to as low as $199.96, a day after the professional networking site slashed its full-year forecast, citing lower demand for advertising.
(NYSE:LNKD) shares plunged 20 percent Friday, a day after the professional networking site slashed its full-year forecast on lower demand for advertising, as spending on display ads fell 10 percent in the first quarter.
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