Social Media Stocks Fall Amid Poor LinkedIn Guidance

Shares of social media stocks fell late Thursday amid poor guidance from LinkedIn Corp LNKD.

LinkedIn announced that it expected Q2 adjusted EPS of $0.28 on revenue of $670 million to $675 million, while analysts had expected EPS of $0.74 on revenue of $718 million.

Shares of immediately tumbled following the news and traded at $209.24 Friday morning, down 17.01 percent.

Analysts at Wedbush and Credit Suisse were among the first to comment on the results.

Shares of Twitter Inc TWTR, Google Inc GOOG GOOGL and Facebook Inc FB were also down amid the news, though Facebook recovered by Friday and was higher at the open.

The social media ETF Global X Funds SOCL was down 1.9 percent at $19.81.