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October 28, 2016

LinkedIn reports revenue jump ahead of Microsoft merger

Investments across mobile, messaging, content and jobs allow LinkedIn’s platform to continue to show strong engagement.

By CBR Staff Writer

LinkedIn has released its third quarter results, reporting better revenue growth and a solid increase in registered users, ahead of its merger completion with Microsoft.

Total revenue grew 23% year-over-year to $960m. GAAP net income attributable to common stockholders was $9m and GAAP diluted EPS was $0.06.

Talent Solutions contributed to the bulk of the company’s revenue with a 24% increase year-over-year to $623m.

The company said hiring contributed to $556m in revenue, up 21% year-over-year, and learning & development contributed $67m.linkedin

Marketing solutions generated in $175m in revenue followed by $162m from the company’s premium subscriptions led by Sales Navigator.

Cumulative members rose 18% year-over-year to 467 million, and unique visiting members registered 6% increase to an average of 106 million members per month.

Member page views saw a 27% rise in Q3, generating 20% year-over-year growth in page views per unique visiting member.

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The social network said mobile continues to increase at more than double the rate of overall member activity, exceeding 60% of all traffic.

LinkedIn CEO Jeff Weiner said: “In Q3, continued product investments across our platform drove another quarter of strong engagement and financial performance.

“As we look forward, our combination with Microsoft creates the opportunity for us to dramatically increase the impact and scale with which we deliver value to our members and customers.”

LinkedIn said it will not update its outlook for fiscal 2016 because of the pending completion of merger.

Back in June, Microsoft agreed to acquire LinkedIn for $196.00 per share in an all-cash transaction valued at about $26.2bn.

LinkedIn stockholders approved the merger agreement, which is anticipated to close by the end of this year.

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