"Looking longer term, we can expect to see many more US states legalise online sports betting and online casino. Looking ahead, XLMedia said it expects the "current softness" to continue across the early summer, with a return to significant investment in customer acquisition, and the launch of new products commencing in the run-up to the new NFL season bolstering the second half of 2023. "This reflects our previous acknowledgement that growth in the US market will not be linear, with significant spikes generated by periodic state launches, however we continue to expect to be in line with our expectations for the full year," it said. XLMedia also said the level of acquisition spend by operators in the first half is not comparable to 2022. It added that the launch of online sports betting in Massachusetts in mid-March, after the NFL season ended, it did not see the spike in revenues normally seen on a state launch. However, it said revenue in the first half will be "inevitably" be lower than the prior comparator period, which benefited from the launch of online sports betting in New York. In a statement at the company's annual general meeting, Chief Executive Officer David King said that in the US, it saw a "strong" start to the first quarter with the launch of online sports betting in Ohio. Shares in the Henley-on-Thames-based digital publisher were down 16% to 9.50 pence each in London on Friday morning. "LinkedIn knows the global economy is slowing considerably, and that bodes poorly for hiring and their bottom line.(Alliance News) - XLMedia PLC shares fell on Friday, after it said revenue in the first half will be lower due to strong comparative and lower customer spending. "Outside Facebook, the entire social media sector is under severe pressure and has been for the past year," said Adam Sarhan, CEO of Sarhan Capital. “We enter 2016 with increased focus on core initiatives that will drive leverage across our portfolio of products.” “Q4 was a strong quarter for LinkedIn, bringing to a close a successful year of growth and innovation against our long-term roadmap,” said Jeff Weiner, CEO of LinkedIn, in a statement. LinkedIn projected 2016 first-quarter earnings per share of 55 cents, which would be down 3.5 percent from a year prior and falls short of the 74 cents per share analysts were expecting. But that came in far short of analysts' expectations, which had pegged their estimates at $866.86 million in revenue. The company's forecast for the first quarter was $820 million in revenue, which would represent a 28.5 percent year-to-year increase from the $638 million LinkedIn posted in the first quarter of 2015. Worse yet was the professional social network's outlook for 2016. LinkedIn Corporation (LNKD) Stock Price - 30 Days | FindTheCompany "This is another example of how companies in their early development are challenged by the quarterly assessment under the public market microscope.” Gellert said LinkedIn is positioned to be stable. “Like Facebook, Twitter and other social technology companies, LinkedIn is investing in its growth and providing future value to its user base," said James Gellert, CEO of Rapid Ratings, a research and analytics firm. LinkedIn saw its costs and expenses grow more than 39 percent from $629.3 million in the fourth quarter of 2014 to $877.8 in the most recent period. Revenue for all of LinkedIn's major products was up year over year, so the drop in profit came as a result of growing costs. For the final three months of 2015, LinkedIn posted a net income of $126 million, down 50 percent from the $254 million net income it reported a year ago. Those figures beat analysts' estimates' of $857.59 million in revenue with earnings per share of 78 cents.īut while revenue was up, profit was down. The company also posted earnings of 94 cents per share, which are up 51.6 percent from 62 cents per share a year ago. The Mountain View, California, company posted revenue of $862 million, up 34 percent year to year from $643 million for the same period in 2014. SAN FRANCISCO - LinkedIn shares plummeted more than 25 percent in after-hours trading Thursday following the release of the company's fourth-quarter earnings, in which the professional networking site outlined a worse-than-expected forecast entering 2016 and reported net income down from a year prior due to growing expenses. Chris Ratcliffe/Bloomberg via Getty Images LinkedIn, the professional social network, released its earnings results for the final quarter of 2015 on Thursday.
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