The leading professional networking site, LinkedIn released its second quarter earnings report on August 1st and against expectations the corporation managed to post an excellent result during the period. Thanks to increase in its number of members that currently stands at 238 million mark. This increase in the number of members enabled LinkedIn to post $363.7 million revenue that is 59 percent more than the $228.2 million profit it had showed during the same period back in 2012. On this occasion, LinkedIn issued a press release, which carries details regarding the second quarter earnings of the professional networking website. Below are few excerpts from that press release:
“LinkedIn Corporation (NYSE: LNKD), the world’s largest professional network on the Internet, with more than 238 million members, reported its financial results for the second quarter of 2013:
Revenue for the second quarter was $363.7 million, an increase of 59% compared to $228.2 million in the second quarter of 2012.
Net income for the second quarter was $3.7 million, compared to net income of $2.8 million for the second quarter of 2012. Non-GAAP net income for the second quarter was $44.5 million, compared to $18.1 million for the second quarter of 2012. Non-GAAP measures exclude tax-affected stock-based compensation expense and tax-affected amortization of acquired intangible assets.
Adjusted EBITDA for the second quarter was $88.6 million, or 24% of revenue, compared to $50.4 million for the second quarter of 2012, or 22% of revenue.
GAAP diluted EPS for the second quarter was $0.03; Non-GAAP diluted EPS for the second quarter was $0.38.
“Accelerated member growth and strong engagement drove record operating and financial results in the second quarter,” said Jeff Weiner, CEO of LinkedIn. “We are continuing to invest in driving scale across the LinkedIn platform in order to fully realize our long-term potential.”
Second Quarter Financial Details and Operating Summary
Talent Solutions: Revenue from Talent Solutions products totaled $205.1 million, an increase of 69% compared to the second quarter of 2012. Talent Solutions revenue represented 56% of total revenue in the second quarter of 2013, compared to 53% in the second quarter of 2012.
Marketing Solutions: Revenue from Marketing Solutions products totaled $85.6 million, an increase of 36% compared to the second quarter of 2012. Marketing Solutions revenue represented 24% of total revenue in the second quarter of 2013, compared to 28% in the second quarter of 2012.
Premium Subscriptions: Revenue from Premium Subscriptions products totalled $73.0 million, an increase of 68% compared to the second quarter of 2012. Premium Subscriptions represented 20% of total revenue in the second quarter of 2013, compared to 19% in the second quarter of 2012.
Second Quarter Highlights and Strategic Announcements
In the second quarter of 2013:
LinkedIn membership grew to 238 million, as growth accelerated to 37% year-over-year. This strength was driven primarily by product optimization, and represents the first membership growth acceleration since the third quarter of 2011.
The Influencer Program added professional luminaries including Bill Gates, Japan’s Prime Minister Shinzo Abe, Senator Elizabeth Warren, Jamie Dimon, and Burberry CEO Angela Ahrendts. LinkedIn’s professional publishing platform contributed to homepage traffic more than doubling compared with last year.
LinkedIn revamped its mobile phone experience with the introduction of new iOS and Android apps. Mobile activity has increased, with mobile homepage engagement rising over 40%, and increasing levels of social actions, article views, and mobile profile edits when compared to the past version.
LinkedIn launched a new version of its flagship Recruiter platform for Talent Solutions customers resulting in increased customer engagement. LinkedIn also launched CheckIn, which enables student members to engage with recruiters at on-campus hiring events.”
Source: TechCrunch, LinkedIn
Motorola Officially Unveils Moto X Smartphone, Sports Always on Voice-Recognition Feature, Custom Build Back Covers and More
Motorola Reassures New Family of Moto X Phones is Arriving Soon Including an Inexpensive Edition
Lunches So Good Kids Can’t Ignore Them
Invigorating Ginger Smoothie
The U.K.’s Youngest Parents Ever
The new hair Jennifer Lawrence