LinkedIn Reports $712 Million Q2 Revenue, Up 33% YoY
Career-focused social network beats Wall Street expectations with a strong quarter. It now has 380 million registered users.
LinkedIn reported its second quarter earnings today, posting revenue of $712 million, an increase of 33 percent over last year at this time.
The total beat Wall Street expectations; analysts had estimated revenue would come in at about $680 million. Earnings per share were $0.55, also exceeding the expected $0.33.
Sixty-two percent of the revenue — $443 million — came from “Talent Solutions” products that help recruiters find candidates; marketing solutions revenue was $140 million, and premium subscriptions pulled in $128 million.
“LinkedIn continued to deliver increased member and customer value in the second quarter while delivering solid financial results,” LinkedIn CEO Jeff Weiner said in the company’s earnings release. “We continued to invest in our long-term strategic roadmap and began integrating the acquisition of lynda.com that closed during the quarter.”
The career-focused social media network continued its membership growth, adding 16 million people since Q2 to push its total to 380 million. That’s a 21-percent jump since Q2 of 2014. The company reported 97 million unique visiting members during the quarter, up 16 percent since 2014 but the same total who visited last quarter.
Nearly 70 percent of LinkedIn members are from outside the United States, including 10 million in China. China, which had 4 million members in February, is the second-largest market for new signups after the US.
The company said improvements to its desktop platform and mobile products have led to a 60-percent increase in year-over-year engagement and that search traffic is growing “meaningfully” faster than overall member activity.
Much of that search activity represents people looking for jobs, of course, and the number of unique visitors to jobs-related pages increased about 40% year over year. The Job Search app had more than 3 million activations, up from about one million in the first quarter. The company said there are now nearly 4 million jobs listed on the network, an increase of about 3 million since last year at this time.
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