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LinkedIn Reports Q3 2013 Revenue Of $393M, Membership Up To 259 Million
LinkedIn reported a strong Q3 2013 today, with revenue up 56 percent year-over-year to $393 million and earnings-per-share of 39 cents. Both figures are higher than analysts expected.
The company also reported that it now has more than 259 million members, a 38 percent increase Y-O-Y.
In a prepared statement, CEO Jeff Weiner said, “increased member growth and engagement helped drive strong financial results in the third quarter.”
LinkedIn also announced that its recently launched University Pages already number more than 1,500 and have been created in more than 60 countries.
The company has hit rough waters in the last week with one of its new products, LinkedIn Intro, a service that connects LinkedIn profiles and data to the Apple Mail app on iPhones. Security experts have called it a security risk, forcing LinkedIn to fight back yesterday.
Further bad news came in today’s earnings report, when LinkedIn lowered its revenue forecast for Q4. As I type this, the stock is down more than three percent in after-hours trading.