LinkedIn reports US$22.6m in profit and US$324.7m for Q1

3 May 20132 Shares

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Business social network LinkedIn has reaped US$22.6m in profit during the first quarter on revenue of US$324.7m.

The company’s first-quarter revenue increased 72pc, compared to US$188.5m in revenue in the year-ago quarter.

Profit also rose, from US$5.0m in the same period last year.

Revenue from the US reached US$201.4m and represented 62pc of total revenue in the first quarter of 2013. Revenue from international markets totalled US$123.3m, and represented 38pc of total revenue in the first quarter of the year.

“Q1 was a strong quarter for LinkedIn, with member engagement and financial results reaching record levels,” said Jeff Weiner, CEO of LinkedIn.

“We remained focused on delivering great products that increasingly make LinkedIn the essential daily resource for global professionals.”

LinkedIn’s adjusted EBITDA for the first quarter amounted to US$83.4m, or 26pc of revenue, compared to US$38.1m for the first quarter of 2012, or 20pc of revenue.

GAAP diluted EPS for the first quarter totalled US$0.20.

LinkedIn now has 225m members.

Tina held senior editorial positions at daily newspapers in Ottawa and Toronto

editorial@siliconrepublic.com