LinkedIn shares drop nearly 30% on weak outlook
Shares of LinkedIn plummeted nearly 30% in after-hours trading on Thursday, erasing around $7 billion from its market capitalisation. This happened after the professional social networking company reported a loss of $8.4 million for the December quarter, even as its net revenue grew 34% year-on-year to $862 million, and forecasted weaker-than-estimated sales for the upcoming quarter and year.