LinkedIn reports $393 million in revenue, tops Street

SAN FRANCISCO (Reuters) - LinkedIn Corp posted better-than-expected third quarter revenue of $393 million on Tuesday, a 56 percent jump from a year ago, as the red-hot social networking site reported progress in its transition to mobile devices.

LinkedIn's dizzying valuation - it is trading at roughly 158 times forward earnings, compared with Facebook's 70 times and Google's 23 - has heightened scrutiny on whether the company can maintain its growth streak.

LinkedIn said its monthly users rose to 259 million during the quarter, a 38 percent rise from a year ago.

(Reporting by Gerry Shih; Editing by Phil Berlowitz)