LinkedIn Reports $364 Million In Q2 Revenues
Professional social network LinkedIn has reported revenues of $364 million with earnings per share of 38 cents. Analysts were expecting revenues of $353.85 million with an earnings per share of 31 cents.
“Accelerated member growth and strong engagement drove record operating and financial results in the second quarter,” stated LinkedIn chief executive officer Jeff Weiner. “We are continuing to invest in driving scale across the LinkedIn platform in order to fully realize our long-term potential.”
Earlier this year, LinkedIn turned 10 years old. LinkedIn acquired Pulse for $90 million in April as well. Last month, LinkedIn improved their mobile search engine. In June, Bill Gates joined LinkedIn as a contributor.
Most of LinkedIn’s revenue came from Talent Solutions. The Talent Solutions accounted for $205.1 million alone, which is an increase of 69% compared to the same quarter last year. LinkedIn’s Marketing Solutions group accounted for $85.6 million. The company’s premium subscriptions service was $73 million.
Now LinkedIn will be testing “sponsored updates,” which started this past week. The lead generation has been looking promising for this product.
Membership: LinkedIn now has 238 million users. This is an increase of 37% compared to the same quarter one year ago.
Influencers: LinkedIn’s Influencer program is helping the company increase their traffic. Some of their guest posts are written by Bill Gates and Richard Branson. The company’s homepage traffic from Influencer posts have more than doubled from the previous year.