LinkedIn Profits Exceed Wall Streets Expectations
STEVE INSKEEP, HOST:
NPR's business news starts with social networking profits.
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INSKEEP: You can get attention on the Internet. You can even draw a massive crowd in seconds. The question always is how to make money. Investors have been scrutinizing Facebook's plans to go public and trying to figure out the company's prospects.
Yesterday, Wall Street also turned its focus to another young Internet company, one that is already trading publicly. LinkedIn said its fourth quarter profits jumped to about $7 million, which was above analyst expectations. LinkedIn has positioned itself as a jobs and career networking site. It makes money not just from ads, but also from companies and recruiters paying fees to access profiles on its site. Transcript provided by NPR, Copyright NPR.