LinkedIn beats expectations ahead of Microsoft deal

LinkedIn reported earnings and revenue that were higher than analysts expected, after the company negotiated a $26.2 billion sale to Microsoft.

The company said second-quarter revenue was $933 million (€843 million), up 31 per cent from a year earlier. The average analyst estimate was $899 million. Earnings, excluding some items, were $1.13 cents per share in the second quarter, compared with analysts’ projection of 78 cents.

Microsoft deal

This may be LinkedIn’s last earnings report as an independent company, before it joins Microsoft in one of the largest technology industry deals on record.

The company started the deal process after earlier this year reporting that it would grow more slowly than expected, causing its shares to drop more than 40 per cent in a day.

Combining with Microsoft may help LinkedIn get its profiles more at the centre of people's work lives, giving them information about the person they've scheduled a meeting with through Microsoft's Outlook email and calendar service, for example. – (Bloomberg)