LinkedIn handily beat Wall Street's expectations for its first quarter, but a lower-than-expected outlook for the second quarter appears to have caused the company's stock to drop by as much as 11% in after-hours trading.
The company posted Q1 revenues of $324.7 million compared to an expected $317 million and earnings of $0.45 a share vs. a predicted $0.31. However, LinkedIn's guidance for 2Q is for $342 million to $347 million compared to the $359.2 million that analysts had been expecting.
The company's stock had also been rising lately. It was up about 95% for the last six months and broke $200 for the first time on Thursday on expectations for the earnings report.
In a press release reporting its Q1 results, LinkedIn didn't outline why its 2Q guidance came in lower.
The company also reported that it now has more than 225 million members. The company passed 200 million users in January.