LinkedIn Nails its Fourth Quarter, Yearly EarningsBy: Sean Patterson - February 7, 2013
If there’s one thing LinkedIn is, it’s consistent. The company has slowly built its brand and membership numbers in the crowded social media space where other companies are getting bloodied.
LinkedIn today announced its fourth quarter 2012 and year-end 2012 financial results, and, once again, the social network for professional networking hit its marks.
The company pulled in revenue of $303.6 million in the fourth quarter of 2012, an 81% increase over the fourth quarter of 2011. Non-GAAP net income was also up at $40.2 million and its non-GAAP diluted earnings per share rose to $0.35.
For the whole of 2012, LinkedIn took in $972.3 million, an increase of 86% year-over-year.
“2012 was a transformative year for LinkedIn,” said Jeff Weiner, CEO of LinkedIn. “We exited 2011 having successfully revamped our underlying development infrastructure. Based on that investment, we said that 2012 would be a year of accelerated product innovation, and it was. The products we delivered throughout the year drove member engagement and financial results to record levels in the fourth quarter.”
For their fourth quarter earnings, the company cited strong revenues of $161 million from its “Talent Solutions” recruiting products and $83.2 million from its Marketing Solutions products. Subscription revenue from premium memberships to its social network rose 79% to $59.4 million.
LinkedIn set ambitious goals for itself in 2013, and expects to bring in between $1.41 billion and $1.44 billion.
“Continued investment in our talent and technology infrastructure drove momentum in both product and monetization, resulting in record revenue, profitability, and cash flow,” said Steve Sordello, CFO of LinkedIn. “As we look forward to 2013, we remain excited about the value LinkedIn will create for members and customers in the coming year.”