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LinkedIn shares plunge almost 44% in US

LinkedIn shares have fallen almost 44 per cent after it forecast slower growth this year and said it was discontinuing a new online advertising system.

LinkedIn's Mountain View, headquarters

LinkedIn shares have fallen almost 44 per cent after it forecast slower growth this year. (AAP) Source: AAP

Investors have given LinkedIn a poor job review in the form of a dramatic sell-off that wiped out nearly $US10 billion ($A13.92 billion) in the professional networking service's market value after it issued a surprise forecast for slower growth this year.

LinkedIn shares plunged almost 44 per cent on Friday, a day after the company reported better-than-expected earnings for the last quarter, but warned that revenue would fall short of what most analysts were projecting for 2016.

It also said it was discontinuing a new online advertising system that hadn't worked out.

Several analysts noted that LinkedIn has a track record of beating its own forecasts, but investors seemed shaken by the latest report.

The stock closed on Friday at $US108.38 after its worst slide since LinkedIn went public in 2011.


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Source: AAP



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