LinkedIn reports unexpected profit

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LinkedIn Corp., the largest professional-networking website, unexpectedly reported a second- quarter profit and revenue more than doubled as it lured new members following a May initial public offering.

Profit excluding certain costs was $10.8 million, or 10 cents a share, the Mountain View, California-based company said in a statement today. Sales soared to $121 million. Analysts on average had predicted a loss of 1 cent a share on $106.4 million in revenue, according to data compiled by Bloomberg. Shares rose in extended trading.

via LinkedIn Reports Unexpected Profit as Networking Site Adds Paying Members – Bloomberg.

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Kells Hetherington