LinkedIn shares plummet on Q3 loss, stock sale

Professional social networking site increases revenue, but operating costs skyrocket

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It reported an almost identical percentage increase in unique visitors from a year ago to 87.6 million per month.

In order to continue spending to increase membership and traffic (and make the site more attractive to employers and advertisers), LinkedIn also announced plans to raise up to $500 million through a share offering.

LinkedIn said it expected fourth quarter revenue to be $154 million to $158 million and full-year revenue in the range of $508 million to $512 million, above consensus estimates of about $489 million.

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