2/8/213 – LinkedIn (LNKD) stock price surged 21.27% today. Shares of the company were the 2nd highest gainer across the Nasdaq and NYSE, ending the day at a record price of $150.48.
Chart Source: Yahoo! Finance
LinkedIn reported better than expected fourth quarter figures that blew past Wall Street estimates. Revenue for the fourth quarter was $303.6 million, an increase of 81% compared to $167.7 million in the fourth quarter of 2011. Stock analysts were expecting Q4 revenue of $279.5 million.
The firm ended the year with 202 million members, an increase of 39% from the previous year.
"2012 was a transformative year for LinkedIn," said Jeff Weiner, CEO of LinkedIn. "We exited 2011 having successfully revamped our underlying development infrastructure. Based on that investment, we said that 2012 would be a year of accelerated product innovation, and it was”.