LinkedIn reports 89pc jump in second-quarter revenue to US$228.2m
Income from advertisers, subscribers and services for businesses have fuelled an 89pc increase in business social network LinkedInís second-quarter revenue to US$228.2m. In Q2 2011, the company had reported revenue of US$121.0m.
LinkedIn also hiked its full-year revenue forecast to US$915m-US$925m from US$880m-US$900m.
Net income for the company’s second quarter amounted to US$2.8m, down from US$4.5 from the same period last year.
Non-GAAP net income for the second quarter totalled US$18.1m, compared to US$10.8m from the year-ago period.
Adjusted EBITDA for the second quarter was US$50.4m, or 22pc of revenue, compared to US$26.3m for the second quarter of 2011, or 22pc of revenue.
“LinkedIn had a strong second quarter with all of our key operating and financial metrics showing solid performance,” said Jeff Weiner, CEO of LinkedIn.
“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.”
Revenue from Hiring Solutions products totalled US$121.6m, an increase of 107pc from the same time last year.
Marketing Solutions products revenue amounted to US$63.1m, up 64pc compared to Q2 of 2011.
Premium Subscriptions products revenue reached US$43.5m, a boost of 82pc compared to the year-ago period.
Revenue from the US totalled US$147.3m, and represented 65pc of total revenue in the second quarter of 2012. Revenue from international markets amounted to US$81.0m, and represented 35pc of total revenue in 2012’s second quarter.