LinkedIn reported Q1 2013 results this afternoon. With revenue of $324.7 million, the company beat consensus Wall Street expectations. Revenue for the same period last year was $188.5 million. The US market was responsible for 62 percent of the total, while international revenues were 38 percent.
Net income was $22.6 million vs. $5 million in Q1 2012. Non-GAAP income was $52.4 million. The company said it now has 225 million users.
Here are the revenue generating products from LinkedIn and the corresponding figures:
- Talent Solutions: Revenue from Talent Solutions products totaled $184.3 million, an increase of 80% compared to the first quarter of 2012. Talent Solutions revenue represented 57% of total revenue in the first quarter of 2013, compared to 54% in the first quarter of 2012.
- Marketing Solutions: Revenue from Marketing Solutions products totaled $74.8 million, an increase of 56% compared to the first quarter of 2012. Marketing Solutions revenue represented 23% of total revenue in the first quarter of 2013, compared to 25% in the first quarter of 2012.
- Premium Subscriptions: Revenue from Premium Subscriptions products totaled $65.6 million, an increase of 73% compared to the first quarter of 2012. Premium Subscriptions represented 20% of total revenue in the first quarter of 2013, consistent with the first quarter of 2012.
The following are slides from the earnings presentation:
LinkedIn’s stated goal is to drive daily engagement among its user base and it has made considerable progress toward that goal with a range of new products and services, including improved search and more content.
LinkedIn expects full year 2013 revenue to come in between $1.43 billion and $1.46 billion. However weaker guidance for Q2 is what has sent the stock down in after-hours trading. Indeed, record revenues are projected for 2013 though the pace of revenue growth is slowing.