It's really quite remarkable how well LinkedIn stock is performing, especially considering that Facebook's (the world's biggest social network) hit its all time low last week.
That's not to say LinkedIn is worth more than Facebook, by any means, but as of the time of this writing, LinkedIn stock is sitting at $108.51. Granted, LinkedIn is slightly down (107.98 -0.53) in pre-market trading, but LinkedIn surged, following its Q2 earnings report last week, jumping 7% on Thursday after the report was released. On the same day, Facebook stock hit an all-time low.
The company announced that revenue had jumped by as much as 89% year-over-year, reaching $228.2 million.
“LinkedIn had a strong second quarter with all of our key operating and financial metrics showing solid performance,” said CEO Jeff Weiner in the report. “Our ongoing investment in product innovation drove healthy engagement as measured by unique visiting members and member page views, and our three revenue streams all experienced significant growth.”
LinkedIn has hardly made a dent in its mobile strategy, so far, and that could mean even better things for the company's value. WebProNews recently spoke with Kiran Prasad, who talked about how it has recently improved that strategy, and how it is confident in efforts that will soon help the company better monetize mobile.
Not unlike the desktop version of LinkedIn, it involves ads and subscription features.
The company is expecting more significant revenue growth in the third quarter, projecting between $235 million and $240 million. For the full year, the company is projecting $915 million to $925 million (up from previous guidance of $880 million to $900 million).