LinkedIn share price soars after strong results that smashed expectations

 
James Nickerson
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LinkedIn has 13m users in China (Source: Getty)

Professional networking site LinkedIn's share prices skyrocketed 12.25 per cent to $243.52 as markets in America opened today after posting results that smashed expectations yesterday.

LinkedIn posted earnings per share of $0.78 compared to forecasts of $0.46, with a 37 per cent jump in revenue to £780m (£509m).

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The company cited particularly strong performance in China, where it now has more than 13m members. LinkedIn also boasted of good progress by Lynda, the online business and tech training company it acquired earlier this year.

Chief executive Jeff Weiner also pointed to a number of recent changes to improve users' experience, from changing the way email messaging works to improving its mobile app, which seem to be working. He added:

The third quarter was a strong one for LinkedIn. Our member-facing product pipeline has never been stronger, and recent roll-outs are driving continued positive engagement trends.

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RBC Capital and Axiom Capital have both raised the buy price target to $285 and $300 respectively following the results, according to reports.

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