LinkedIn has announced its second quarter earnings, which could be its last financial results as an independent company before it is acquired by Microsoft.
Although revenue increased 31% year-over-year to $933m, the social media company posted a loss of $119.3m. These losses are significantly more than the $67.7m posted in last year's corresponding quarter.
Excluding several expenses, LinkedIn said it would have earned $1.13 a share.
The company added 450 million cumulative members, while unique visiting members grew 9% to an average of 106 million members per month.
Microsoft agreed in June to buy LinkedIn for $26.2bn. Once the deal is closed, LinkedIn's financial results will be reported as part of Microsoft's Productivity and Business Process segment.
In a regulatory filing, LinkedIn said that it anticipates the deal to close this year. The company estimates transaction-related costs of around $100m.
LinkedIn CEO Jeff Weiner said: “In Q2, we demonstrated good momentum with our member and customers, and delivered strong financial results.
“Continued product innovation drove increased levels of engagement, and strengthened our enterprise offerings. We believe joining forces with Microsoft enables us to further accelerate and scale our ability to deliver value and create economic opportunity for every member of the global workforce."
LinkedIn said in light of the pending merger, it will not update its outlook for the full year.
