LinkedIn reported a huge jump in quarterly revenue. The corporate networking site saw sales rise, as more businesses used its service to find job candidates. Expansion in international markets like China also helped LinkedIn post a beat. Shares were much higher initially after the close. Before the bell, shares were up 2.5 percent to $237.97.
It was a totally different story for Pandora. The streaming music service reported revenue that widely missed expectations as mobile advertising growth slowed. The bad news didn’t stop there, it gave revenue guidance for its current quarter that also trailed consensus. Shares got slammed initially in after-hours trading. Before the close, shares were off just slightly to $18.41.
Strong holiday demand for its skin care and make up products helped Estee Lauder post better-than-expected results. The beauty company warned that full-year sales would fall more than expected because of the stronger dollar, but investors shrugged that off. Shares popped eight percent to $78.40.
A tough day for shares of Dunkin’ Donuts. The coffee and donut chain’s profit trailed estimates and it cut its full-year outlook, blaming consumer challenges and competition in the breakfast environment. The company did raise its quarterly dividend to around 26 cents a share, for a yield of around two percent. Still, shares fell more than one percent to $46.03.
Shares of Sprint rose after it said its quarterly revenue fell less than expected. This as the wireless provider attracted more subscribers by cutting prices and offering promotions. Shares rose more than five percent to $4.82.
Verizon is selling some wireline assets to frontier communications for $10 billion. The Dow component is also selling some cell towers to American tower for $5 billion and will use some of the proceeds to buyback about $5 billion in stock. Shares rose initially after the bell. Before the close the stock was up a fraction to $47.86