San Francisco - LinkedIn reported earnings and revenue that were higher than analysts expected, after the company negotiated a $26.2bn sale to Microsoft.
LinkedIn said second-quarter revenue was $933m, up 31% from a year earlier. The average analyst estimate was $899m. Earnings, excluding some items, were $1.13 cents per share in the second quarter, compared with analysts’ projection of 78 cents.
The big picture
This may be LinkedIn’s last earnings report as an independent company, before it joins Microsoft in one of the largest technology industry deals on record.
The company started the deal process after earlier this year reporting that it would grow more slowly than expected, causing its shares to drop more than 40% in a day.
Combining with Microsoft may help LinkedIn get its profiles more at the center of people’s work lives, giving them information about the person they’ve scheduled a meeting with through Microsoft’s Outlook e-mail and calendar service, for example.