LinkedIn raises estimate for 2016 with increased demand for procurement services

LinkedIn Corp., operator of the world''s largest social network for professionals, unveiled quarterly revenues and profit better than expected, with the growing demand for their services to the company raising its hires and estimates for 2016.
The recipe for business solutions for the company''s talents, that connects recruiters and job candidates, jumped to 41% 558 million dollars in the first quarter. The deal is almost two-thirds of the total revenue of the company.
LinkedIn has purchased companies, expanded its sales force and invested heavily to increase its presence in markets outside the United States, including China.
The company raised its adjusted profit estimate for the year of 3.40 to 3.30 dollars per share, up from 3.05 to $ 3.20. The company also raised its revenue forecast to 3.70 3.65 billion billion dollars, up from 3.60 billion to 3.65 billion dollars.
The net loss attributable to LinkedIn increased to 45.8 million dollars, or 0.35 dollar per share, in the quarter ended March 31, compared with $ 42.5 million, or 0.34 dollar per share, a year earlier, with the cost rising 41,5%.
Revenue jumped 35% to 860.7 million dollars.