LinkedIn’s revenue grew by 120pc since 2010

5 Aug 2011

LinkedIn’s revenue for the second quarter of 2011 hit US$121m, an increase of 120pc year-on-year.

Revenue from its Hiring Solutions rose by 170pc to US$58.6m, representing 48pc of total revenue. Its Marketing Solutions revenue hit US$38.6m, an increase of 111pc and Premium Subscriptions reached US$23.9m, an increase of 60pc.

“In the second quarter, we saw record levels of members, unique visitors, and page views, while revenue growth further accelerated,” said Jeff Weiner, CEO of LinkedIn.

“Going forward, we plan to continue to invest in our team, technology and products in order to increase the value we deliver to members and realise the full potential of the LinkedIn platform.”

The professional networking site saw its members increase to 115.8m, a growth of 61pc since 2010, and its page views increased by 80pc to 7.1bn from the same period last year.

Net income reached US$4.5m in the second quarter which compares to US$.43m from the second quarter of last year. Adjusted EBITDA was US$26.3m compared to US$11.5m from last year.

“Strength in our engagement metrics, outperformance in our leveraged online channels, and a growing backlog with key corporate clients drove record revenues and adjusted EBITDA during the quarter,” said Steve Sordello, CFO of LinkedIn.  

“We will continue to take a long-term perspective and invest aggressively in the global LinkedIn platform.”

LinkedIn opened trading in May of this year, with a US$4.5bn valuation.