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Technology / Data

LinkedIn reports strong Q2 earnings

Linkedin reported that the company was up 89% in revenue with $228.2m compared to $121m in the second quarter of 2011.

However, the company had a net loss of $1.7m since its second quarter last year. Its net income was $2.8m compared to $4.5m during the same period last year.

"Our ongoing investment in product innovation drove healthy engagement as measured by unique visiting members and member page views, and our three revenue streams all experienced significant growth," said LinkedIn in a statement.

LinkedIn’s successful earnings report comes in the wake of a disappointing first earnings report from Facebook.

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The company reported a net loss of $157m in the second quarter compared to a net income of $240m in the same quarter a year ago.

The company’s second quarter loss was largely affected by share based compensation expenses for employees in the wake of its IPO, which totalled $1.3bn.

Facebook’s revenue growth was the slowest since its first quarter in 2011. The social network’s revenue was up by 32% totalling $1.18bn compared to $895m in the second quarter of 2011, however, its capital expenditures more than tripled to $413 million in the second quarter.

The company invested in several new mobile products this year including a new Facebook Camera app for the iPhone after purchasing Instagram for a hefty £1bn and a new version of its mobile messenger app for iOS and Android. Facebook also launched its global application centre and plans for Facebook integration with the next version of Apple’s iOS and OSX.

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