Bloomberg reports that revenue this quarter will be $235m to $240m, Mountain View, California-based LinkedIn said in a statement yesterday. Full-year sales will be $915m to $925m, ahead of the $880m to $900m it projected in May.
Analysts on average were predicting third-quarter sales of $236.3m and 2012 revenue of $906.3m, according to data compiled by Bloomberg.
Chief Executive Officer Jeff Weiner has lured subscribers and increased revenue from hiring services, the largest of the company’s three main product lines. The first among social media companies to hold initial share sales since early 2011, LinkedIn has done a better job than consumer-focused peers Facebook Inc. (FB) and Zynga Inc. (ZNGA) at wringing sales from a growing user base. It’s also more adept at managing expectations, said Tom Forte, an analyst at Telsey Advisory Group in New York.
'Their execution since becoming public has been the best of the newly minted Internet companies', said Forte. 'This has been a consistent beat-and-raise story'.
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image: © Nan Palmero