LinkedIn continues to be not only the social media site for grownups, but the grownup of the social media companies.
One of the best-performing recent tech IPOs reported another strong quarter Thursday, beating expectations for revenue and boosting full-year guidance.
Shares jumped 12% to $104.82 in recent trading.
This comes a week after Facebook didn’t deliver any guidance and shares dropped steadily in the wake of its earnings, closing Thursday at a new low. The stock was up 9.5% to $21.95 Friday. Zynga and Groupon have followed the same trajectory downward.
The concerns are myriad in the industry, as highlighted by Facebook’s and Zynga’s reports last week, and LinkedIn is by no means immune. The pace of revenue growth slumped heavily from last year’s second quarter. Expenses nearly doubled.
But investors still continue to buy the stock and analysts are praising the company… more at wsj.