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August 2, 2013

LinkedIn reports 59% increase in Q2 revenue

Net income at the company increased to $3.7m.

By CBR Staff Writer

Professional social network LinkedIn has reported a 59% rise in revenues to $363.7m for the second quarter this year, compared to $228.2m during the same period last year.

Net income hit $3.7m, or $0.03 diluted earnings per share, for the quarter, compared to $2.8m last year.

Revenue from the US took in 62% of total revenue, about $224.3m, while revenue from international markets was $139.4m.

LinkedIn’s talent solutions products generated revenue of $205.1m, up 69% and representing 56%of total revenue for the quarter.

The company said revenue from its Marketing Solutions products rose 36% to $85.6m, while revenue for premium subscriptions increased 68% to $73m.

LinkedIn CEO Jeff Weiner said: "We are continuing to invest in driving scale across the LinkedIn platform in order to fully realise our long-term potential."

LinkedIn CFO Steve Sordello said that the company operated at a high level in the second quarter, evidenced by strong engagement, steady growth as well as increasing levels of adjusted EBITDA and cash flow.

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"We continue to make long-term investments against our operating priorities in order to add increased value for our members and customers," Sordello added.

The company said it expects to post revenue in the range of $367m and $373m for the third quarter of this year.

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