LinkedIn stock plummets 28 percent on weak guidance

From CNET: LinkedIn's efforts to get professionals excited about its social network are not paying off as fast as some expected, especially investors.

LinkedIn announced Thursday that its fourth-quarter earnings and revenue had topped analysts' estimates, but the company's stock plunged more than 28 percent in after-hours trading on weaker-than-expected guidance. It was the second time in the past nine months the Mountain View, California-based company's stock tanked on earnings news.

LinkedIn's grim prediction comes as the 12-year-old social network retools to attract new users beyond the 400 million it currently boasts. The social network, which helps users find jobs or just connect with others, is free to use but charges for features like advanced search and messaging strangers.

To build up its user base, LinkedIn has been expanding into new markets, including China, and adding new lines of business such as tools for advertising and marketing. To help its members learning the right professional skills, LinkedIn said in April it had reached an agreement to buy Lynda.com, an online training site, for $1.5 billion.

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