Discover what's up in the business of marketing each Friday.
LinkedIn Earned $363.7 Million In 2Q 2013, Up 59% Compared To Same Time Last Year
Today, LinkedIn released its financial results for last quarter, showing the company had earned $363.7 million in revenue during the second quarter of 2013, an increase of 59 percent compared to Q2 2012.
LinkedIn’s 2013 second quarter revenue earnings were split between the following three product segments:
- Talent Solutions accounted for 56 percent of second quarter revenue, earning $205.1 million.
- Marketing Solutions accounted for 24 percent, generating $85.6 million.
- And, Premium Subscriptions accounted for 20 percent, totaling $73 million.
“Accelerated member growth and strong engagement drove record operating and financial results in the second quarter,” said LinkedIn CEO Jeff Weiner.
Beyond revenue, LinkedIn saw a membership growth of 37 percent year-over-year. Now, with more than 238 million members, last quarter’s increase was the first membership growth acceleration LinkedIn has experienced since the third quarter of 2011.
Other second quarter highlights included the launch of CheckIn, a tool for students to engage with recruiters at on-campus hiring events, and a new version of the Recruiter platform for Talent Solutions customers. LinkedIn also updated its iOS and Android apps, reporting a 40 percent increase in mobile homepage engagement compared to past versions of their mobile apps.
LinkedIn projects 2013 revenue to range between $1.455 and $1.475 billion.