On a day that saw the Dow Jones Industrial Average (INDEXDJX:.DJI) shed almost all of its 2014 gains and over 300 points, there was still optimism amongst investors with LinkedIn Corp (NYSE:LNKD), Tesla Motors Inc (NASDAQ:TSLA) and others all reporting their seconds quarters following the closing bell on Thursday.
The company reported a massive 47% year-over-year gain in revenue. The second quarter saw sales of $534 million compared to consensus estimates that anticipated revenue of $511. Adjusted earnings per share also blew away expectations with the company reporting earnings of $0.51 as opposed to The Street’s calls for earnings per share of $0.39 and up from 34% from the corresponding quarter in 2013.
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“LinkedIn Corp (NYSE:LNKD) delivered strong financial results in the second quarter while maintaining investment in our member and customer offerings,” said CEO Jeff Weiner in a statement on the results. “We made significant progress against several key strategic priorities including increasing the scale of job opportunities on LinkedIn; expanding our professional publishing platform; and continuing the strategic shift towards content marketing through Sponsored Updates.”
LinkedIn Corp (NYSE:LNKD)’s “talent solutions” business, which helps business find and recruit talent, reported revenue of $322 million, up 49% year-over-year. That business now represents 60% of LinkedIn’s total revenue and the company reported that 322 million people were now “LinkedIn” at the end of the quarter.
LinkedIn’s forward guidance and today’s trading
The company also strengthened its forward guidance with the company expecting revenue to be between $543 million and $547 million in the current third quarter and between $2.14 billion and $2.15 billion for the full year. Both of those numbers surpass the current consensus calls.
The company is also calling for earnings per share of $0.44 for Q3 and $1.80 for fiscal 2014.
Prior to today’s trading, LinkedIn Corp (NYSE:LNKD) shares were down nearly 17% in 2014. On a day that saw few gains for anyone, LinkedIn closed at $180.64, down $6.65 or 3.55%. However, after the earnings call, the stock is presently (4:57 EDT) at $195.28 up $14.64 or 8.10% in after hours trading.