On the heels of a $150,000 grant to the University of Michigan-Flint to enable the University of Michigan-Flint to develop a comprehensive data platform that will assist government and community leaders in making more informed decisions about the water crisis, Google today announced $250,000 in grant funding to partners in the Flint community to help resolve the crisis, with a special focus on using data and technology.
At first glance, LinkedIn LNKD -9.05%’s second quarter results, released Thursday after the close of markets, looked stellar.
After lowering its forecasts earlier in the year, reorganizing its sales unit and trying new advertising strategies, the Mountain View, Calif.-based company beat revenue and earnings expectations and raised its forecast for the remainder of the year. Shares shot up as much as 15% in after-hours trading.
But investors’ enthusiasm didn’t last.
During LinkedIn’s conference call, shares gave up their gains and quickly dipped as much as 9% to $207, before rebounding slightly, as investors questioned the growth of the network’s core business. Shares, which have been roughly flat this year, had closed down 2.1% to $227.15 during regular trading.
So why did investor’s mood changed so quickly? Here are four reasons:
Lynda.com: The bump in LinkedIn’s annual revenue forecast can mostly be ascribed to the network’s acquisition of online video tutorial library Lynda.com. The $1.5-billion acquisition, which closed in May, is now expected to generate about $90 million in sales during 2015. That figure is more than double LinkedIn’s earlier $40 million sales forecast for the website. On the earnings call, LinkedIn’s CEO Jeff Weiner said Lynda’s sales forecast rose in part because the sale closed earlier than expected. That means the trajectory of LinkedIn’s core business is unchanged from when it lowered forecasts earlier this year.
A Boost to 2015 Revenue Forecast, But a Small One: The bump in LinkedIn’s revenue guidance was not only small — $2.94 billion, up from the $2.9 billion – but also much of it was realized in the current quarter. That means the second half of the year isn’t looking any better than it had before the earnings call.
Display Ad Sales Drop: Traditional display ads are a declining business generally, so it isn’t surprising that the trend is hurting LinkedIn. It didn’t help the stock that LinkedIn said its display ad sales were down 30% in the second-quarter from the same period a year earlier. This drop will likely continue, as more than half of users now access LinkedIn on mobile devices.
Jason Young, 33, hopes to impact 20 million young people with his
education technology company. As the CEO and co-founder of MindBlown
Labs (MBL), he designs products intended to help the youth better
navigate in the real world.
Pitch competitions are fast becoming very popular for those wishing to
get cash for their start-up ventures. Dawn Dickson is one of those
entrepreneurs. Recently, she competed against three companies and took home the
$25,000 cash prize at the Essence Festival 2015 for the PowerMovesNOLA
‘Big Break’ pitch competition.