LinkedIn jumps on profit surge, SlideShare deal

@CNNMoneyInvest May 4, 2012: 4:14 PM ET

NEW YORK (CNNMoney) -- LinkedIn's stock soared on Friday, a day after the career networking site announced strong quarterly earnings and its plans to buy SlideShare.

LinkedIn, which has about 160 million members, said on Thursday that it had agreed to buy SlideShare, a business content-sharing site, for about $119 million.

LinkedIn's (LNKD) stock closed at $117.30 on Friday, up 7.3%.

The deal would be comprised of 45% cash and 55% stock and is expected to close in the second quarter, according to LinkedIn.

LinkedIn, which is based in Mountain View, Calif., also said on Thursday that its net income jumped to $5 million in the first quarter, more than double the year-ago quarter. The company's revenue also doubled, to $188 million. To top of page

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