NEW YORK/LOS ANGELES (Reuters) - LinkedIn Corp projected faster-than-expected 2011 revenue growth after chalking up a surprise second-quarter profit, as the professional networking site sets off to prove it can fulfill the promise of its monster IPO and rich valuation.
Shares of the company -- whose services are used by professionals seeking jobs or contacts and companies hoping to fill vacancies -- climbed almost 5 percent in after-hours trade, recouping some of their 9.6 percent loss during the regular session in which markets tanked.
They have more than doubled since LinkedIn's monster May debut, when it became the first prominent U.S. social networking site to go public, whetting the appetite of investors for a Facebook IPO while fanning fears of another dotcom bubble reminiscent of the late 1990s.
Investors pored over the company's first full results report for clues as to whether the stock's lofty valuation at more than 30 times 2010 sales was justified. They picked out healthy growth in both revenue and members.
The Mountain View, California company had warned it will not be profitable in 2011 as it shovels funds into expansion -- hiring field sales representatives and launching new products. But investors brushed off those concerns for now.
"We see great things for it. Some of what is happening in the marketplace is, investor demand for social media companies is taking p
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