LinkedIn Q2 revenue forecast falls short of expectations
May 3 , 2013
Shares in LinkedIn fell 10 percent on Thursday after it released a lower-than-expected revenue forecast for the second quarter of 2013.
The social network, aimed at professional users, has in recent months created a news content feature for mobile devices in a bid to keep users signed in longer and sell more advertising.
However, executives have warned that its advertising business will record "a more moderate growth" than its other services.
Shares of LinkedIn have surged about 74 percent this year on the back of an 80 percent rise in revenue to $184.3 million in the first quarter.
Its current-quarter revenue is likely to range from $342 million to $347 million, lower than the $359.3 million expected by analysts.