LinkedIn has reported better than expected earnings in second quarter of 2013. The professional social network saw revenue increase to 59 percent to $363.7 million from $228.2 million in Q2 2012. The site now boasts 238 million users, a 37 per cent increase from a year ago and a 9 per cent increase from the first quarter.
Talent solutions or the corporate recruiting product that LinkedIn sells, remains the most profitable part of the business. Its share of revenue grew slightly to 56 percent of total revenue, up from 53 percent last year. The marketing solutions or advertising, generated $85.6 million, up 36% from the year-ago period and represented 24% of total revenue, down from 28% a year ago while premium subscriptions generated $73.0 million in the quarter, up 68% from the year-ago period and represented 20% of total revenue, up from 19% a year ago.
LinkedIn CEO Jeff Weiner said in a statement,
“Accelerated member growth and strong engagement drove record operating and financial results in the second quarter. We are continuing to invest in driving scale across the LinkedIn platform in order to fully realize our long-term potential.”
LinkedIn also revealed that mobile engagement was up by 40% thanks to its revamped Android and iOS apps.
A total of $224.3 million, or 62%, of LinkedIn’s revenue came from the U.S., while $139.4 million, or 38%, came from international markets. India has been a strong market for LinkedIn with over 20 million users. LinkedIn recently introduced Infographic player to Slideshare, revamped homepage and allowed adding of photos and media content. The company has confirmed the importance of social recruiting in India its latest report ‘India Recruiting Trends Report 2013’.
Image Courtesy | linkedin
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