LinkedIn to buy SlideShare for US$119m
LinkedIn has turned out another successful quarter, leaving it with some extra cash to go start-up shopping.
The Mountain View, California-based company reported a net income of US$5 million in the first quarter, or 4 cents per share. Non-GAAP earnings were 15 cents per share on a revenue of US$188.5 million.
Wall Street expected the company to report earnings of 9 cents per share on revenue of US$178.6 million.
Chief executive Jeff Weiner said in prepared remarks:
LinkedIn's solid performance in the first quarter built on the company's momentum in 2011. We saw strength across all key metrics, from member sign-ups and engagement to significant revenue growth across our three product lines.
For the outlook, LinkedIn is predicting a revenue of US$210 million to US$215 million at the end of Q2 2012.
Last quarter, LinkedIn predicted that it was expecting revenue to fall between US$840 million and US$860 million for 2012 overall. This time, LinkedIn bumped up the outlook, expecting between US$880 million and US$900 million.
Additionally, LinkedIn announced plans to acquire SlideShare, a professional content-sharing community, for about US$118.75 million. The deal breaks down to roughly 45 per cent cash and 55 per cent stock, and is expected to close during the second quarter of this year.
Currently, SlideShare hosts more than 9 million presentations, and in March it reportedly had 29 million unique visitors.
Via ZDNet US