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LinkedIn tops estimates, issues sunny outlook; shares jump

Results were helped by a strong recruitment services business and higher advertisements

LinkedIn says the total number of members rose 20% to 396mln at the end of the third quarter.

LinkedIn (NYSE:LNKD) surged in pre-market trades as the market cheered a strong performance by the recruitment services business and higher advertisements.

The world's biggest professional online network operator beat quarterly revenue and profit beat analysts' estimates and also raised its full-year profit and revenue forecasts.

Shares advanced as much as 11% as of 8:44 a.m. in New York. The stock had lost 5.5% since the beginning of the year through the close of regular trading on Thursday.

Net loss widened to $40.5mln, or $0.31 per share, in the quarter ended September 30 as costs surged 46%.

Stripping out items, LinkedIn earned $0.78 per share, topping the average analyst estimate of $0.46, according to Capital IQ.

Revenue rose 37.2% to $779.6mln, beating analysts' expectations of $755.8mln, partly due to the acquisition of training video company lynda.com in May.

LinkedIn has been spending heavily on expansion by buying up companies, hiring sales personnel and increasing its presence in China and other markets outside the United States.

Revenue from advertisements on its web site increased 28%, while paid membership income increased 21%.

LinkedIn said the total number of members rose 20% to 396mln at the end of the third quarter. LinkedIn operates in over 200 countries and territories.

The company said the number of its subscribers in China had more than tripled since early 2014, when it launched a local language version, to over 13mln currently.

LinkedIn also said 55% of its traffic was through mobile devices such as smartphones and tablets.

The company raised its 2015 revenue outlook to $2.975bn-$2.980bn from $2.94bn, and adjusted profit forecast to about $2.63 per share from about $2.19.

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