SOCIAL NEWS: LinkedIn shares fall 10%
LinkedIn shares have fallen more than 10 per cent in the after-hours trading in New York.
This was a result of the social network's weaker-than-expected forecast for the current quarter.
LinkedIn have said it expects revenues of between £220 million to £223 million in the April to June quarter. This has raised concerns that LinkedIn's pace of growth may be slowing.
The 10 per cent fall could be a direct result from the increasing number of users accessing social networks from mobile devices. Social sites which rely on advertising revenue for growth are struggling to create effective ads for their mobile sites.
Kerry Rice, an analyst with Needham & Co said: "The stock is somewhat a victim of its own success. They had a really big acceleration in [the] fourth quarter. So I think the market kind of expected similar results in [the] first quarter and throughout 2013.”