LinkedIn Beats Q3 Estimates With 78 Cents Per Share Earnings, $780M Revenue
Company also says it reached the 400-million-member milestone last week.
LinkedIn reported a very strong third quarter in its latest earnings announcement on Thursday.
The social network reported total revenue of $780 million, a 37-percent increase year over year. The company’s Marketing Solutions division saw annual revenue increase 28 percent, while Talent Solutions and Premium Subscriptions saw revenues go up 46 percent and 21 percent respectively, compared to a year ago.
The Q3 earnings per share of 78 cents was almost double the expected 46 cents, up from last year’s 52 cents EPS.
Member Count Also Rising
LinkedIn says it ended Q3 with 396 total members and hit the 400-million-member milestone just last week. That 396 million count is a 20-percent YoY gain. A good portion of the membership gains are happening in China, where CEO Jeff Weiner says the company now has 13 million members — up more than 300 percent since LinkedIn launched a local language version there in early 2014.
The company also reports a 33-percent increase in member page views and says mobile now represents 55 percent of all LinkedIn traffic.
Weiner says LinkedIn will launch a new mobile app next month.