Bangalore: Linkedin, the Mountain View, California based business networking company released its first quarter results this week, according to which, the company’s profit more than doubled with the shares jumping 8 percent and reaching $118. 70.

The company also revealed a deal of $118 million, buying SlideShare, a presentation sharing website.

The net income for the first three months totaled $5 million, up from the $2.3 million last year. Analysts had forecasted $179 million revenue, which the company was able to top with $188.5 million and it is expecting a second-quarter revenue of $210 million to $215 million, above the $208 million forecast.

As an encouraging sign to the company, people setting up LinkedIn profiles is growing in a rapid pace as company added another 16 million people in the first three months of 2012 to make the total count to 161 million.

The company is also expecting to close a deal in June to buy San Francisco-based SlideShare with cash and stock. “Presentations are one of the main ways in which professionals capture and share their experiences and knowledge, which in turn helps shape their professional identity. SlideShare fits "perfectly" with LinkedIn's mission and will help deliver more value to its members,” said LinkedIn CEO Jeff Weiner in a statement.

LinkedIn’s revenue mostly comes from the fees it charges recruiting services, companies and other people who want complete access to the listed profiles and data on the website. A small portion of the revenue come from advertising.