The career-oriented networking portal LinkedIn Corp (NYSE:LNKD) topped Forbes' 2013 list of America's 25 fastest-growing tech companies, for the second consecutive year, while social networking giant Facebook Inc (NASDAQ:FB) pushed IT major Apple Inc.( NASDAQ:AAPL) to third place on the list.
LinkedIn topped the list, clocking a 102 percent growth in average sales over the last three years and a 51 percent growth in three-to five-year estimated earnings-per-share, or EPS.
Facebook came in second, averaging 87 percent growth in sales for the last three years and a 25 percent growth in estimated EPS. Apple, which was in second position in 2012, placed third in 2013 list with a 55 percent growth in sales and 15 percent growth in estimated EPS.
Cognizant Technology Solutions (NASDAQ:CTSH), the Teaneck, NJ, headquartered Indian IT outsourcing major, slipped three spots to be ranked No. 12, and is the only Indian technology company to make the Forbes 25 list.
Although based in the U.S., Cognizant is considered an Indian company, as it bases a significant portion of its operations and employees in India. The company, last month had displaced Infosys Ltd (NYSE:INFY) to become the second-largest Indian IT services provider by revenues, according to global technology research and advisory company Gartner. Cognizant was ranked 9 and 11 on Forbes list for the years 2012 and 2011 respectively.
The online search engine giant Google Inc (NASDAQ:GOOG) was No. 17 on the list, while Forbes placed cloud-based health service provider athenahealth Inc (NASDAQ:ATHN) at No. 13.
The list ranks technology companies based in the U.S. on the basis of average sales for the past three years and estimated EPS. Forbes picks the ranked companies from more than 2,100 publicly-traded technology firms. Only companies that report profit with a minimum revenue of $150 million and a market capitalization of at least $500 million are considered eligible.
The companies also are required to have a sales growth of at least 10 percent for each of the past three years and over the last 12 months, and an EPS growth above 10 percent over the next three to five years to qualify for an entry on the list.
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