Yeah, I would like to see someone justify the market value of LinkedIn. They seem to be losing money, and they have over 9000 employees (doing what exactly?).
They have posted a small loss ($8mn) in the fourth quarter.
But if you ignore a number of costs you can easily convert a $166 million loss into a $373 million gain. See the last table in the press release:
That depends on your definition of "losing". Ignoring stock based compensation (almost 20% of revenue if properly accounted for using GAAP) helps to get the "adjusted" net income into positive territory.