News Summary: LinkedIn 2Q revenue soars

AP News
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Posted: Aug 02, 2012 7:15 PM

STRONG QUARTER: LinkedIn delivered stronger-than-expected revenue in the second quarter, helped by growth from ads and the fees it charges for premium access to its vast trove of professional profiles to recruiters and people looking to network.

NET INCOME DOWN: At the same time, the company's net income declined from a year ago as LinkedIn spent more money to invest in its business.

INVESTORS PLEASED: LinkedIn's stock climbed $7.14, or nearly 8 percent, to $100.65 in after-hours trading. The stock had closed down $2.13, or 2.2 percent, to $93.51. Unlike Facebook and Zynga, which are much lower, LinkedIn's stock is trading at more than double its $45 IPO price.