LinkedIn Corp. (LNKD) is forecasting sales that trail analysts' estimates as growth slows in all three of the professional-networking site's businesses.
First-quarter revenue will be $455 million to $460 million, the Mountain View, California-based company said Thursday in a statement. Analysts on average projected sales of $469.4 million, according to data compiled by Bloomberg.
LinkedIn, whose shares have more than quadrupled since the company's 2011 initial public offering, is headed for its fifth straight quarter of decelerating sales growth. To expand its potential revenue base, LinkedIn is seeking to reach workers overseas, add mobile features and make acquisitions. The company said yesterday that it bought Bright Media Corp., an analytics company that helps match candidates with the right employers, for about $120 million in cash and stock.
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