Oct. 31, 2014, 12:55 PM
- LinkedIn's (NYSE:LNKD) Q3 beat more than offsets its light Q4 guidance, thinks FBR, one of several firms to hike its target today.
- FBR likes LinkedIn's Q3 Talent Solutions customer adds - 2.2K vs. 1.7K a year ago - as well as user engagement trends, 14% Q/Q growth in sponsored news feed update ad sales (now 31% of Marketing Solutions revenue), and ongoing progress for Sales Navigator (now 25% of subscription revenue).
- SunTrust expects a new Talent Solutions price hike to boost 2015 growth, and (like many others) considers Q4 guidance conservative. RBC takes note of LinkedIn's ARPU growth (5% Y/Y) and strong user metrics - registered members +28% Y/Y to 332M, monthly unique visitors +16% to 90M; member page views +28%.
- Shares now +66% from a May low of $136.02.
- Results/guidance, details.
Oct. 31, 2014, 9:06 AM
Oct. 30, 2014, 4:25 PM
- LinkedIn's (NYSE:LNKD) Talent Solutions revenue (jobs, 61% of total revenue) rose 45% Y/Y in Q3, after growing 49% in Q2. Marketing Solutions (ads, 19% of revenue) +45% vs. +44% in Q2. Subscriptions (20% of revenue) +43% vs. +44% in Q2.
- The U.S. made up 60% of revenue, even with Q2 and Q1. Field sales channels accounted for 60% of sales, and online/direct channels 40%.
- GAAP costs/expenses +44% Y/Y to $559.7M. Sales/marketing spend totaled $199.2M, R&D $136.5M, and G&A $89.3M.
- LNKD now -1.2% AH. Investors might be remembering LinkedIn has a long history of lowballing guidance.
- Results/guidance, PR
Oct. 30, 2014, 4:08 PM
Oct. 29, 2014, 5:35 PM
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Oct. 28, 2014, 6:38 PM
- Facebook beat Q3 estimates, but provided Q4 revenue guidance that was slightly below consensus at the midpoint.
- Twitter (NYSE:TWTR) -1.7% AH; shares fell 9.8% in regular trading due to yesterday's Q3 results and guidance.
- LinkedIn (NYSE:LNKD) -1.6%. Pandora (NYSE:P) -1.2%. YELP -1.6%. Zillow (NASDAQ:Z) -1%.
- Many of the same names sold off after Netflix and eBay's earnings two weeks ago.
Oct. 15, 2014, 4:45 PM
- Internet stocks are selling off in AH trading as Netflix craters in response to its light Q3 subscriber adds and disappointing Q4 guidance, and eBay slumps after providing weak Q4 guidance and reporting only 6% Y/Y Q3 Marketplaces growth.
- Google (NASDAQ:GOOG) -1.6% AH. Facebook (NASDAQ:FB) -1.5%. Amazon (AMZN - taking share from eBay) -2.8%. Twitter (NYSE:TWTR) -1.9%. LinkedIn (NYSE:LNKD) -4.2%. YELP -1.4%.
- Internet ETFs: FDN, PNQI, SOCL
Sep. 26, 2014, 10:50 AM
- LinkedIn's (NYSE:LNKD) Sales Navigator product will see its revenue rise to $1.9B in 2019 from a mere $273M in 2014, forecasts Cowen's John Blackledge, upgrading shares to Outperform. His target has been raised by $58 to $253.
- Blackledge is a big fan of the Sales Navigator overhaul LinkedIn rolled out in late July for both PCs and mobile. It included a separate (non-LinkedIn) login, lead recommendation by account, better CRM software integration, easier data discovery, and other features sought by sales pros.
- He notes data suggests social selling can provide a major boost to sales productivity, in part because it can eliminate cold-calling. Sales Navigator's subscriber count is expected to see a 59% CAGR from 2014-2019, eventually reaching 1.9M (3% global salesforce penetration).
Aug. 21, 2014, 7:02 PM
- Deep Nishar, LinkedIn's (NYSE:LNKD) SVP of products/user experience and a 6-year company vet, is leaving.
- In a statement, LinkedIn states CEO Jeff Weiner will be "indefinitely" taking over Nishar's responsibilities. The company also observes its user base has grown by over 10x to 313M since Nishar came on board.
- Nonetheless, LinkedIn has struggled in recent years to boost its historically low engagement rates (relative to other social networking platforms), in spite of a series of product changes meant to address the issue. The company's Q2 numbers suggest it's starting to make some headway.
Aug. 19, 2014, 12:05 PM| 8 Comments
Aug. 5, 2014, 2:25 AM
- LinkedIn (NYSE:LNKD) will pay almost $6M to more than 350 current and former employees following a Department of Labor investigation which found that the online career-networking company violated U.S. wage law.
- The Labor Department uncovered LinkedIn's failure to record and compensate workers for all hours worked, violating provisions of the Fair Labor Standards Act which requires non-exempt workers to be paid the federal minimum hourly wage plus overtime.
Aug. 1, 2014, 1:11 PM
- "We believe the long-term trajectory of existing businesses and the opportunity represented by emerging businesses like Sales Navigator ... remain among the strongest in Internet," writes Goldman, reiterating a Buy on LinkedIn (LNKD +9%) and upping its target by $20 to $250.
- The firm sees jobs and product sales benefiting from mobile and native ad growth, and thinks strong growth justifies a steep valuation of 21x 2015E EV/EBITDA.
- 4 other firms have also hiked their LinkedIn PTs. Among them is SunTrust (PT raised to $240), which declares LinkedIn "uniquely positioned to create a [cloud app platform] for professionals." The company just rolled out a standalone version of its Sales Navigator product (has a separate login) that adds a number of features requested by sales pros.
- Many analysts are pleased LinkedIn added 2.2K+ Talent Solutions accounts in Q2, up from Q1's disappointing 1.4K and bringing the total base to 28.1K. Also going over well: Cumulative members rose 6% Q/Q and 32% Y/Y to 313M. On the other hand, unique logged-in visitors only rose 3% Q/Q and 13% Y/Y to 84M; total unique visitor count is at 186M (per comScore).
- Q2 results, guidance/details
Aug. 1, 2014, 9:15 AM
Jul. 31, 2014, 5:47 PM
Jul. 31, 2014, 4:19 PM
- LinkedIn (NYSE:LNKD) expects Q3 revenue of $543M-$547M and EPS of $0.44, above a consensus of $540.9M and $0.40. Full-year guidance is for revenue of $2.14B-$2.15B and EPS of $1.80, above a consensus of $2.13B and $1.64. The company has a history of guiding conservatively.
- Marketing Solutions (ad sales, 20% of revenue) growth accelerated to 44% Y/Y in Q2 from 36% in Q1, and helped drive the Q2 beat. Growth had been pressured in prior quarters by a transition to sponsored news feed ads.
- Talent Solutions (jobs, 60% of revenue) +49% vs. +50% in Q1. Subscriptions (20% of revenue) +44% vs. +46% in Q1. The U.S. was 60% of revenue, same as Q1.
- Likely helping ad sales: Traffic to posts from publishers and "influencers" has more than doubled since February, when a new publishing platform was launched. LinkedIn, whose engagement is lighter than that of most other popular social networks, says the platform is now producing 30K+ long-form posts per week.
- Total GAAP costs/expenses +46% Y/Y to $519.8M. Sales/marketing +51% to $184.5M, R&D +35% to $128.7M.
- Q2 results, PR
Jul. 31, 2014, 4:08 PM
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