Please ensure Javascript is enabled for purposes of website accessibility
December 3, 2022

Footnotes: LinkedIn Is Down; SEC Seeks Accounting Questions | 05.01.14

LinkedIn Swings to Loss on Expenses LinkedIn Corp. swung to a first-quarter loss on higher expenses but posted stronger-than-expected revenue and raised its top-line guidance for the year. The Mountain View, Calif., professional social network said revenue rose 46% to $473.2 million as sales increased to job recruiters and through premium subscriptions to individuals. Its ad business was also up. LinkedIn had projected revenue in February of $455 million to $460 million, while Wall Street analysts were more optimistic and called for $467 million. [WSJ]

Google has backed off on logging what students do [TaxProf]

Rigged market? SEC busts the NYSE The Securities and Exchange Commission is usually busy busting insider traders and penny stock operators. But Thursday the regulator charged the New York Stock Exchange and two affiliated exchanges for “failure to comply with the responsibilities” of following securities laws. The NYSE and the affiliated exchanges including Archipelago, where many exchange-traded funds are traded, agreed to a $4.5 million penalty. NYSE spokesman Eric Ryan declined to comment. The NYSE didn’t admit or deny the charges. [USA Today]

SEC Frets It’s Not Getting Enough Accounting Questions Companies have been asking fewer questions of the U.S. Securities and Exchange Commission’s accounting staff this year, and that has regulators stumped. The SEC’s Office of the Chief Accountant has received far fewer-than-normal consultation requests to help companies clear up complex accounting issues before they file their financial statements, Daniel Murdock, deputy chief accountant in the Office said Thursday. “The drop-off is pretty significant at around 40%,” Mr. Murdock said in comments at a Baruch College accounting conference in New York. [CFO Journal via WSJ]

FYI, the cloud was a bubble and now it's busted [CNBC]

Ban all the things! [Twitter]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

a dog in fall leaves

Friday Footnotes: How EY Fights Poaching; Lack of Staff Is Closing Doors; Accounting to Biglaw? | 11.25.22

Big 4 FRC to fine Deloitte £440k over 2018 audit [Accountancy Today] The Financial Reporting Council’s Audit Quality team has issued a notice of a proposed sanction on Deloitte, proposing a regulatory penalty of £440k after it was determined that the Big Four firm failed to comply with the auditing framework in its audit of […]

kitten in autumn leaves

Friday Footnotes: Retired EY Partners Hate on the Split; It’s a Raid!; ‘An Alphabet Soup of Technology’ | 11.18.22

Big 4 EY split threatens to weaken both sides of firm, say retired partners [Financial Times] More than 150 retired EY partners have written to the accounting firm’s leadership objecting to the radical plan to split its consulting and audit businesses. In a three-page memo seen by the Financial Times, the retired US partners say […]