LinkedIn, the corporate social network that possibly sends you annoying emails, reported its quarterly results, and the reaction was swift and brutal.
The earnings themselves were fine but the company’s outlook for the next quarter and fiscal year ahead has clearly underwhelmed. The stock has fallen by around 25% in a matter of minutes, wiping out around $6 billion from its market value of $31.76 billion. It’s not the first social media stock to have caused an investor freakout this week. Twitter’s quarterly results weren’t very well received either.