LinkedIn Q3 2012 revenues top analyst expectations


by Tineka Smith| 02 November 2012

LinkedIn had strong results with revenues increasing 81% compared to Q3 2011.


Revenue for the third quarter totalled $252m compared to $139.5m during the same period last year.

The company reported a net income of $2.3m compared to a net loss of $1.6m during Q3 2011.

LinkedIn's growth can be contributed to many improvement and solutions the company introduced this year.

The company made $138.4m in revenue from its Talent solutions products, a dramatic increase of 95% compared to Q3 2011.

Revenue from talent solutions accounted for 55% of total revenue for the quarter.

LinkedIn's marketing solutions products totalled $64m, representing 25% of total revenue in the third quarter of 2012.

"LinkedIn had a strong third quarter with all of our key operating and financial metrics showing solid growth," said Jeff Weiner, CEO of LinkedIn. "The last few months mark the most significant period of product development in the company's history. This accelerated pace of innovation is fundamental to our goal of driving greater engagement on the LinkedIn platform."

LinkedIn recently released new features like endorsements which have encouraged more user activity and increased the frequency of profile updates. Over 200 million endorsements have generated so far. After the company's launch of notifications and the new homepage, comments have increased more than four times the amount before June. Homepage traffic has also increased by 60%.

"Increased member activity led to sustained growth across our talent, marketing, and premium product lines, resulting in record levels of adjusted EBITDA as well as record operating and free cash flow," said Steve Sordello, CFO of LinkedIn. "We expect a strong finish to the year behind momentum in both our engagement and monetization platforms."

LinkedIn's projects its revenue for Q4 2012 to range between $270m to $275m with stock based compensation to range from $28m to $30m.



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