Business social network LinkedIn reported solid fourth-quarter and full-year revenues of US$303.6m and US$972.3m, respectively. The figures represent an 81pc increase from Q4 revenues of US$167.7m in 2011, and an 86pc jump from 2011 full-year revenues of US$$522.2m.
The company’s net income for the fourth quarter amounted to US$11.5m, also an increase compared to net income of US$6.9m for the fourth quarter of 2011.
LinkedIn’s adjusted EBITDA for the fourth quarter totalled US$78.6m, or 26pc of revenue, compared to US$34.4m for the fourth quarter of 2011, or 21pc of revenue.
Diluted earnings per share for the quarter amounted to US$0.10.
For the full year 2012, diluted earnings per share reached US$0.19.
In commenting on these latest financial results, LinkedIn CEO Jeff Weiner said 2012 has been a transformative year for the company.
“We exited 2011 having successfully revamped our underlying development infrastructure. Based on that investment, we said that 2012 would be a year of accelerated product innovation, and it was. The products we delivered throughout the year drove member engagement and financial results to record levels in the fourth quarter,” Weiner said.
LinkedIn has also seen growth in its membership. The number of LinkedIn’s members reached 202m in the fourth quarter, and the company grew cumulative membership 39pc year over year.
“We continue to add approximately two members per second, and over 64pc of LinkedIn members now come from international markets,” LinkedIn said in a statement.