LinkedIn Q2 revenues jump 33pc to US$712m

31 Jul 201510 Shares

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Revenues connect for LinkedIn

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Business social network LinkedIn reported a 33pc surge in second quarter revenues to US$712m, beating analyst expectations.

Analysts had tipped LinkedIn to bring in 30 cents per share, instead it achieved earnings of 55 cents per share.

The company reported a net loss of US$68m.

The company now has more than 380m members on its social network.

LinkedIn has been on something of an acquisitions spree and in May acquired online training provider Lynda.com for US$1.5bn. Lynda.com is expected to contribute around US$90m to 2015 revenue.

Revenue from talent solutions, including learning and development, was up 38pc on last year, while marketing solutions revenues rose 32pc to US$140m.

Premium subscriptions were up 22pc to US$128m.

“LinkedIn continued to deliver increased member and customer value in the second quarter while delivering solid financial results,” said Jeff Weiner, CEO of LinkedIn.

“We continued to invest in our long-term strategic roadmap and began integrating the acquisition of lynda.com that closed during the quarter.”

LinkedIn is in the process of building a new international headquarters in Dublin that has the potential for doubling its workforce from 600 to 1,200 people.

LinkedIn image via Shutterstock

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Editor John Kennedy is an award-winning technology journalist.

editorial@siliconrepublic.com