LinkedIn quarterly revenue beats estimates

Professional networking service LinkedIn posted fourth-quarter revenue that beat estimates thanks to strong product and subscription growth.

LinkedIn, which went public in May, said fourth-quarter revenue was $167.7 million compared with $81.7 million a year earlier, above Wall Street expectations of $159.7 million, according to Thomson Reuters I/B/E/S.

Net income was $6.9 million, or 6 cents per share. Wall Street had expected earnings of 7 cents per share.

This year, LinkedIn said it aims to reach adjusted earnings before interest, tax, depreciation and amortization (EBITDA) in a range of $155 million to $165 million and revenue of $840 million to $860 million.

Average Street estimates for the full year 2012 were $828.2 million in revenue, EBITDA of $149.8 million and earnings of 57 cents per share.

LinkedIn’s stock was up 2.1 percent in after-hours trade after it closed at $76.39 on Thursday, well above its IPO price of $45.

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LinkedIn quarterly revenue beats estimates