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LinkedIn's First Earnings Announcement Gives Investors Reason to Grin

You can't hop on LinkedIn to tend your farm like you can with Facebook or toss your friends into neatly organized Circles like you do with Google+, and maybe those are two reasons why the social networking service doesn't receive the same kind of attention. LinkedIn is a professional network, the world's largest according to the company, and it's thriving in its own right.

LinkedIn this week made its first earnings announcement as a public company, reporting financial results for its second quarter ended June 30, 2011. There are several highlights to choose from, starting with a membership that now totals 115.8 million, up 61 percent from the same quarter in 2010. LinkedIn is seeing 81.8 million unique visitors every month, an 83 percent improvement over last year, and 7.1 billion page views, up 80 percent from Q2 2010.

On the financial side, revenue for the quarter soared 120 percent from $54.9 million in Q2 2010 to $121 million in Q2 2011. Net income was one of the few numbers that fell flat, only increasing from $4.3 million (Q2 2010) to $4.5 million.

"In the second quarter, we saw record levels of members, unique visitors, and page views, while revenue growth further accelerated," said Jeff Weiner, CEO of LinkedIn. "Going forward, we plan to continue to invest in our team, technology, and products in order to increase the value we deliver to members and realize the full potential of the LinkedIn platform."

Looking ahead to Q3, LinkedIn expects revenue to hover around $121 million to $125 million, and anywhere between $475 million to $485 million for the full year.

08-05-2011, 01:09 PM
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