LinkedIn’s revenue for the latest quarter rose 37 percent from a year ago to $780 million. Analysts expected the company to post earnings of 46 cents per share on $756 million in revenue, according to a consensus estimate from Thomson Reuters. The Sponsored Updates segment within Marketing Solutions again surpassed 100% growth. The company expects depreciation of approximately $78 million, amortization of approximately $47 million, and stock-based compensation of approximately $135 million.
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For the fourth quarter, LinkedIn management expects revenue of between $845 million and $850 million. Revenue from Premium Subscriptions climbed 21% to $138 million.
Evercore ISI analyst Ken Sena says only 17% of the time U.S. users spend on LinkedIn is through the mobile app, compared with 76% of time in the mobile app by Facebook users.
During the quarter, LinkedIn said cumulative members grew 20% to 396 million.
Jeff Weiner, chief executive of LinkedIn said: “LinkedIn delivered strong results in the third quarter, and recently announced several products focused on delivering increased member and customer value”.
Also of note, mobile continues to grow at double the rate of overall member activity, and now represents 55% of all traffic to LinkedIn, Weiner noted. In recent months it’s recovered a bit, now down only 5% for the year to date, but it’s down from a high of around $270 per share, currently trading as high as around $237 after the company reported its earnings.
The company raised its 2015 revenue forecast to $2.975 billion-$2.980 billion from $2.94 billion, and adjusted profit forecast to about $2.63 per share from about $2.19. If the shares mirror that gain in Friday’s regular session, the stock will have gained about 6 percent so far this year. That’s a slight increase from 0.9% in 2014.
The largest USA solar company handed in earnings of $3.38 per share on revenue of $1.27 billion, beating Wall Street estimates of $1.62 per share on revenue of $1.11 billion.
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This year, eMarketer expects LinkedIn to capture 1% of the $58.12 billion U.S.ad market.
