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LinkedIn Corp. (LNKD) Leaped To A New High After Q1 Report & Acquisition

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5/7/2012 6:31 AM ET

LinkedIn Corp. (LNKD: Quote) announced after the close Thursday that it agreed to acquire SlideShare in a transaction valued at approximately $118.75 million. The acquisition is expected to close during the second quarter of 2012.

LinkedIn also reported first quarter non-GAAP EPS of $0.15, up from $0.06 in the previous year. The consensus estimate was for EPS of $0.09.

LinkedIn gapped open sharply higher Friday and climbed during the first half hour of trade, before settling into a range. The stock ended the day higher by 7.89 at $117.30, with volume at nearly a 3-month high. LinkedIn broke out past resistance and set a new all-time high.

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by RTT Staff Writer

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