LinkedIn Falls 26% Shares on Lower Profit Forecast
‘LinkedIn falls 26% shares on lower profit forecast.’ LinkedIn, a social media cum info sharing platform for professional declares it’s sink in losing shares. Linkedin falls 26% shares after the company projected lower than expected profit for the first quarter of 2016. The social media site forecast earnings of $0.55 per share. Which is far below analysts’ expectations of $0.74 per part. It is seriously a horrible dream for Linkedin.
Linkedin CEO Jeff Weiner, seems to defend all this by saying-
We enter 2016 with increased focus on core initiatives that will help drive growth and scale across our portfolio.”
In addition to that, LinkedIn also reported a loss of $8m (£5.4m) for the year, compared with a $3m profit in 2014. LinkedIn has been investing heavily in expansion outside the US and said it plans to extend those efforts. The company any also said it was phasing out one of its newer advertising services that had not played out as planned. The decision stands for the company will forego $50m in sales in the short term.
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