LinkedIn reports Q3 revenue increase of 126pc

4 Nov 2011

Business social network LinkedIn now has 131.2m members, the company reported

Business social network LinkedIn earned third-quarter revenue of US$139.5m, an increase of 126pc from US$61.8 in the same period last year.

The company’s net loss for the third quarter ended 30 September 2011 amounted to US$1.6m, compared to net income of US$4.0m for Q3 in 2010.

Non-GAAP net income for the third quarter was US$6.6m, a slight increase from US$6.0m from the same period last year.

Non-GAAP measures exclude tax-effected stock-based compensation expense and tax-effected amortisation of acquired intangible assets

Adjusted EBITDA for the third quarter was US$24.7m, or 18pc of revenue, compared to US$11.1m for 2010’s third quarter, or 18pc of revenue.

The number of LinkedIn members increased by 63pc from the same period last year to 131.2m.

“LinkedIn had a strong third quarter, with significant, broad-based growth across all of our revenue streams, member engagement metrics, geographies, and sales channels,” said Jeff Weiner, CEO of LinkedIn. 

“Our results underscore the long-term strength of our global platform and our business model.”