LinkedIn, operator of the biggest social networking site for professionals, said revenue climbed by a third in the latest quarter, better than expected, driven by strong growth in its business with recruiters and a 21 per cent rise in members. The company had forecast revenue of $670 million to $675 million, and analysts surveyed by Thomson Reuters had estimated $680 million, on average.
Advertisement
Net loss was $67.7 million, or 53 cents per share, which is wider than last year’s loss of $1 million, or 1 cent per share.
LinkedIn just reported its Q2 earnings, beating expectations on both the top and bottom line.
However, the company said it now expects $90 million from Lynda for the full year versus the original guidance of $40 million, impacted by “an earlier than expected close, a lower than anticipated deferred revenue write-down, and moderate over-performance in the early-going”. Marketing Solutions revenue rose 32% to $140 million, while Premium Subscriptions revenue climbed 22% to $128 million.
“LinkedIn continued to deliver increased member and customer value in the second quarter while delivering solid financial results”, said Jeff Weiner, CEO of LinkedIn.
Talent Solutions revenue (inclusive of Learning & Development) was $443 million, an increase of 38% compared to the same quarter a year ago.
The company said improvements to its desktop platform and mobile products has led to a 60 percent increase in year-over-year engagement, and that search traffic is growing “meaningfully” faster than overall member activity.
In its largest deal but, the corporate stated in April it will pay $ 1.5 billion for lynda.com Inc, a pacesetter within the quick-rising marketplace for profession coaching movies.
After lowering its estimates for the second quarter, LinkedIn on Thursday reported earnings and sales from April to June that beat Wall Street’s expectations.
LinkedIn, which gets 38 percent of its revenue from outside the United States, said that excluding the impact of the strong dollar its revenue would have risen 38 percent. Excluding certain expenses, LinkedIn earned $71 million or 55 cents per share.
The business, in the midst of an overhaul, accounted for 62 percent of total revenue in the quarter. Analysts expected $US1.93 per share on revenue of $US2.91 billion.
Advertisement
For the full year 2015, the company now forecasts revenue of about $2.94 billion and adjusted earnings of about $2.19 per share.
