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Recruiting business boosts LinkedIn’s Q2 revenue by 33%

The company now has about 380 million members.

By CBR Staff Writer

LinkedIn has reported a 33% increase in its second-quarter revenue to $712m due to strong growth in its business serving recruiters.

The company reported an approximate 380 million members at the end of the quarter, an increase of 21% fromlast year.

Revenue from the company’s talent solutions business increased 38% to $443m, and marketing solutions revenue grew 32% to $140m.

Premium subscription revenue was $128m, an increase of 22% compared to the same period last year.

Net loss was $68m, or $0.53 diluted earnings per share, compared to $1m, or $0.01 diluted earnings per share, in the year-ago period.

In Q2, LinkedIn acquired privately-held online education company for about $1.5bn. It added 6,800 courses to the LinkedIn platform via 280,000 videos across five languages.

LinkedIn CEO Jeff Weiner said: "LinkedIn continued to deliver increased member and customer value in the second quarter while delivering solid financial results.

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"We continued to invest in our long-term strategic roadmap and began integrating the acquisition of that closed during the quarter."

LinkedIn expects its third quarter revenue to be in the range of $745m and $750m.

The company said the global expansion is also a core part of connecting members to their professional world. It recently reached the 10 million member milestone in China, up from 4 million last February.

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