LinkedIn shares lose €8bn in value on shock revenue forecast

LinkedIn’s shares plunged about 35% yesterday, wiping out nearly $9 billion (€8bn) of market value, after the social network for professionals shocked Wall Street with a revenue forecast that fell far short of expectations.

The stock sank to a three-year low of $124.51 at one stage, registering its sharpest decline since the company’s high-profile public listing in 2011.

The company is building a huge head office in Dublin to handle its business outside North America.