Doubters may be questioning the strength of the U.S. jobs recovery after Wednesday’s announcement by ADP that 218,000 private sector jobs were created in July — lower than expected — but the job boards aren’t.
Two of the three publicly held careers publishers have so far reported their second-quarter results, and in both cases they’ve wowed Wall Street.
LinkedIn this afternoon announced it grew revenue by 47 percent, crossing over into billion-dollar territory halfway through the year. The company earned 51 cents a share (after adjusting for one-time expenses) versus the 39 cents predicted by analysts. keep reading…
By any measure, the first quarter was a mixed bag for the employment advertising business. The three public companies — Monster, Dice, and LinkedIn — all reported numbers that in some way didn’t hit what Wall Street investors were expecting or wanted.
CareerBuilder, privately held by a group of publishing companies lead by Gannett, its biggest shareholder, said it had North American revenue of $167 million, barely a 1 percent increase from Q1 last year. It provides no other numbers.
LinkedIn Keeps Growing
Last among the companies to report was LinkedIn, which this afternoon said it earned 38 cents a share (not including one-time expenses) versus the 34 cents analysts were expecting. Overall revenue grew by 46 percent to $473.2 million, with recruiting revenue powering the growth. The company took in $275.9 million in recruitment income, an almost 50 percent increase over the same quarter last year. Wall Street forecast the company would bring in $466.57 million. keep reading…
LinkedIn made a sort of history today. For the first time since going public three years ago the company’s stock price dropped even though LinkedIn beat Wall Street’s expectations for earnings and revenue, and, for good measure, announced it had acquired a fast-growing matching-based job board for not much cash.
Reporting its fourth-quarter financial performance after the markets closed this afternoon, LinkedIn said it earned 39 cents a share on revenue of $447.2 million. The company simultaneously announced it had acquired Bright.com, a two-year-old startup that matches jobs to seekers by scoring the latter on how well they fit the position.
The $120 million price will only require LinkedIn to come up with about $36 million in cash, a pittance for a company with $803 million in the bank. The balance will be in LinkedIn stock, which, after dropping more than 7 percent in after-hours trading, is now around $207 a share. keep reading…
Global job board operator Monster Worldwide reported a stronger finish to 2013 than analysts were expecting, beating their average earnings estimate by 5 cents a share and their revenue estimate by $3.4 million.
The company reported this m0rning it earned 11 cents per share versus the 6 cents a share analysts were predicting. Monster also offered a rosier outlook for the current quarter, forecasting it would earn between 6 cents and 10 cents per share.
Wall Street liked what it heard, bidding up the stock by more than 20 percent to $7.13 a share just after the opening. keep reading…
Despite missing on earnings, investors gave Dice Holdings a bye this morning, liking the revenue numbers it posted for the fourth quarter of 2013 as well as what the company sees for this year.
Some slowing in the niche job board company’s security clearances jobs site (ClearanceJobs.com) was more than offset by gains in other areas, and by contributions from the sites Dice acquired when it bought onTargetjobs last fall and the IT Job Board in July. Improvement in the finance sector in Europe and Asia staunched the decline in revenue at eFinancialCareers.
“In the fourth quarter, we delivered better revenue and profitability than we thought we would in October, particularly from improvement in our finance segment,” said Dice CFO, John Roberts. keep reading…
Broadening its reach in healthcare and gaining a foothold in the hospitality job market, Dice Holdings today announced it acquired OnTargetJobs.
The $50 million acquisition adds three key niche sites — Biospace (life sciences), HEALTHeCAREERS (healthcare), and Hcareers (hospitality) — to Dice’s growing portfolio of small but important niche players.
The company’s best known site is of course its career site for the tech industry Dice.com. In the last few years, however, Dice has expanded into energy and healthcare and added to its tech holdings buying Slashdot, SourceForge, and, most recently, UK-based The IT Job Board. The company already owned eFinancialCareers and JobsintheMoney, having acquired them in 2006. keep reading…
For the first time in a while, the Monster had good financial news to report this morning. Not only did it swing to a profit in the third quarter, but it earned more per share than the analysts were predicting.
The global careers company reported earning $11.3 million during the quarter, which translates into 11 cents per share, not including one-time expenses, which are typically not counted in Wall Street earning analysis. Analysts had estimated the company would earn 8 cents a share.
In the same quarter last year, Monster lost $184.2 million, or $1.73 a share. Most of that was the result of the company’s sale at a loss of its ChinaHR careers operation and related expenses. keep reading…
LinkedIn lost money in the third quarter, yet on an adjusted basis, it again soared past what the financial markets were predicting, earning 39 cents a share on revenue of $393 million. But what it said about the future sent its after-hours stock price down $8 a share.
Despite beating Wall Street’s third-quarter estimate of 32 cents on $385 million, LinkedIn said the fourth quarter would come in as much as $23 million below analysts’ expectations. In its third-quarter financial report, released just hours ago, the company said that it expects the quarter’s revenue to fall somewhere between $415 and $420 million. Analysts were looking for $438.1 million for the quarter and a total of $1.51 billion for the year.
However, it’s not unusual for LinkedIn’s forecast to underestimate — sometimes as much as a few points — what it actually delivers during a quarter. keep reading…
Dice Holdings, parent company of the tech career site Dice.com, took a big hit today after its third-quarter financial performance missed Wall Street’s expectations on both per share earnings and revenue.
The stock was down 15.6 percent at one point, putting it second among the worst performing securities. Its share price recovered some lost ground to close at $7.52, down 13.72 percent on the day. keep reading…
What’s LinkedIn planning to buy?
The speculation that the giant, and hugely profitable, business network is planning to make a major acquisition began moments after it announced it was planning to sell $1 billion worth of stock.
In a filing this afternoon with the Securities and Exchange Commission, LinkedIn said it intended to use the money from the sale
…primarily for general corporate purposes, including working capital, further expansion of our product development and field sales organizations, international expansion, general administrative matters and for capital expenditures, including infrastructure. In addition, we may use a portion of the proceeds from this offering for strategic acquisitions of, or investments in, complementary businesses, technologies or other assets. keep reading…
LinkedIn this afternoon reported another amazing quarter, handily beating Wall Street’s expectations on every metric and surpassing Monster in recruitment revenue.
So consistent has LinkedIn’s money-making ability been since it went public two years ago, that the tech site All Things D described it today as “the Internet company that can seemingly do no financial wrong.”
The company reported earning 38 cents per share on 2nd quarter revenue of $363.7 million. Of that, recruitment accounted for 56 percent, or $205.1 million. A year ago, the company had recruitment revenue for the same quarter of $121.6 million. keep reading…
Efforts to sell all or part of Monster Worldwide have ended and the company is now focused on growing its business globally.
Monster’s Chairman and CEO Sal Iannuzzi told analysts this morning during a conference call reporting the company’s second-quarter financials, that “conversations did conclude” during the March-June period, which prompted Monster to resume its stock repurchase program.
The effort to sell Monster — technically a review of its “strategic alternatives” — was first announced in early 2012. Though multiple inquiries were made, and at least a couple competitors were rumored to have had talks, no purchase offer was ever made public. Monster did shutter some operations and sold its stake in ChinaHR.
Iannuzzi didn’t entirely put away the “For Sale” sign, noting that as a public company Monster is always ready to discuss opportunities. However, the company is now looking toward the future.
“We feel good about where we are,” Iannuzzi said, coyly telling analysts, “We have a number of very strategic initiatives on the way.” “I don’t want to be mysterious about it,” he said, but was, declining to offer all but the vaguest hint that these are “social and mobile initiatives.” keep reading…
The longtime CEO, president, and board chairman of Dice Holdings, Scot Melland, will step down from at the end of September. He will remain a member of the board of directors.
Melland will be succeeded as CEO and president by Michael Durney, who is currently the company’s chief financial officer and EVP of its industry brands group, responsible for its energy, financial, and health niche career sites.
Peter Ezersky, a company director since August 2005 and currently chair of the nominating and corporate governance committee, will become chairman of the board. He is managing principal of the investment firm Quadrangle Group, which is a major shareholder in the company and was one of the two company owners before Dice went public in 2007. keep reading…
Shares of LinkedIn and Monster moved in opposite directions today, although both careers sites met or exceeded, or, in the case of LinkedIn, blasted through, Wall Street’s expectations. Monster was up; LinkedIn is sinking.
Both companies reported their first-quarter financial performance today.
Reporting before the market opened, Monster said it earned 8 cents a share on revenue of $212 million. It was the first time in seven quarters the company beat Wall Street’s revenue expectation, which was $210.5 million. That surprise, and the company’s announcement it may buy back up to $200 million of its stock, drove the price up almost 9 percent.
LinkedIn reported earning 45 cents per share on revenue of $325 million. That was 15 cents higher than Wall Street’s estimates average of 31 cents per share earnings and well above its $317.1 million revenue estimate. What hurt the company was its Q2 forecast of revenue of $342 million to $347 million. Analyst estimates averaged out to $359.2 million. The stock lost 10 percent of its value in after hours trading. keep reading…
LinkedIn didn’t so much beat Wall Street’s financial expectations, it shattered them.
The company earned 35 cents per share on revenue of $303.6 million. That was $24 million more than the average of analysts’ estimates and more than $11 million above the most optimistic projection. The average of their earnings estimates was 19 cents a share.
The numbers released this afternoon show LinkedIn brought in more total revenue for the year than did Monster and its fourth-quarter recruitment revenue alone was 90% above the same quarter in 2011. keep reading…
In a financial conference call this morning that was largely devoid of much optimism, Monster officials announced the sale of most of its stake in ChinaHR, and said the company had pulled out of Brazil, Mexico, and Turkey.
It’s fourth-quarter revenues, also reported this morning, of $211.2 was nearly on target with analysts’ average estimate of $212 million, while earnings per share, after adjusting for expenses associated with the company’s restructuring and sales, were 8 cents, in line with estimates.
For the year, Monster earned .38 cents a share, after adjustments. Without the adjustments, Monster lost 66 cents for the quarter, and $2.27 for the year.
By comparison, Dice Holdings Inc., owner of several niche job boards and technology networking sites, reported last week it earned 15 cents a share, a penny better than analysts expected. But profit was down 14% over the fourth quarter in 2011. Revenue, however, grew 11% to $52.7 million on the strength of acquisitions the company has been making. keep reading…
Monster Worldwide laid off an undisclosed number of workers Tuesday, and closed its operations in Brazil and Mexico.
One report put the number at 800, while a Twitter post simply described it as “massive.” keep reading…
Careers site operator Monster Worldwide is announcing this morning a corporate restructuring that will have the company pulling back from some of its global markets, particularly China where it be looking to sell its ChinaHR job site.
Company officials discussed the restructuring this morning in a conference call with investment analysts after releasing Monster’s 3rd quarter financials showing revenue down in every category, but still managing to earn 9 cents a share exclusive of one-time expenses.
The bad news in the financial report is that revenue was down almost 11 percent overall, with the biggest hit coming from operations outside North America. Revenue there was down 15.3 percent. But even in North America revenue declined, down 6.3 percent. In contrast, CareerBuilder reported it grew its North American revenue by 5 percent to $169 million. keep reading…
LinkedIn knocked it out of the park again, reporting third-quarter profit on revenue of $252 million. Not only was that 81 percent over last year’s revenue, it blew right through analysts’ average estimate of $244 million.
The remarkable revenue growth swung the company from a third-quarter loss last year to earnings of 2 cents a share. After adjustments for certain non-operating expenses, LinkedIn earned 22 cents a share., which is almost four times similarly adjusted per share earnings last year.
The results, released after the stock market closed, sent LinkedIn’s shares up more than $8 a share, in after-hours trading. It closed in New York down slightly on the day to $106.85.
Revenue from recruitment alone nearly doubled, growing 95 percent from last year to $138.4 million. It’s the largest share of LinkedIn’s revenue, accounting for 55 percent. keep reading…
Propelled by its flagship tech site, Dice Holdings this morning delivered a financial report so strong it sent the company’s stock up 12 percent.
The company, the first of the publicly traded career sites to report, said it earned 17 cents per diluted share. That beat Wall Street’s average estimate of 12 cents. Dice also reported revenue of $48 million, an increase of 2.6 percent over the same quarter last year and a million more than analysts were expecting.
CareerBuilder, which is privately held, voluntarily reported revenue of $169 million from its operations in North America. That’s a 5 percent increase over the third quarter of 2011. The company doesn’t release other revenue numbers or earnings. LinkedIn will report on Nov. 1.
Monster, curiously, has yet to set a date for release of its numbers. Typically, the company would have done that by now. It also would typically report its numbers this week. There were rumors of a possible sale to (among others) the German media company Axel Springer. The company denied the reports this week.
Dice Holdings, meanwhile, is looking ahead to a strong finish to the year, and product improvements and growth next year. keep reading…