LinkedIn beats on revenue, raises outlook

Professional networking site LinkedIn Corp. (LNKD-N) reported better-than-expected revenue and raised its full year guidance as it pocketed more money from its hiring services.

The company said second quarter revenue rose 89 percent to $228.2 million, beating analysts' average forecast of $216.3 million, according to Thomson Reuters I/B/E/S.

LinkedIn also raised its full-year revenue forecast to a range of $915 million to $925 million from $880 million to $900 million.

LinkedIn connects professionals seeking jobs and companies looking for employees. It makes money selling premium subscriptions and advertising as well as helping companies with hiring.

Revenue from its hiring solutions, which caters to companies looking for employees, rose 64 percent to $63.1 million.

Net income was $2.8 million compared with $4.5 million for the same period a year ago.

Non-GAAP earnings per share of 16 cents was in-line with analysts' expectations.