LinkedIn Spooks Investors With Weak Revenue Guidance
Raise your hand if you were aware that LinkedIn shares were trading above $200 a share earlier this week -- that is, until its first-quarter earnings report. On the surface it looked good for the social networking site -- $52 million in net income, $325 million in revenue -- but LinkedIn's guidance caused investors to stampede for the exits. LinkedIn is expecting revenue for its current quarter of between $342 million and $347 million, but Wall Street analysts were expecting $359 million. Shares dove more than 12 percent in the wake of the announcement.