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LinkedIn Q2 revenue up 89 pc at USD 228 mn; Net down 38 pc

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Press Trust of India New York

Revenues for the April-June quarter of 2011 were USD 121 million.

The sharp rise in revenues is mainly on account of the higher inflow from recruitment services and its subscribers, LinkedIn said in a statement.

Net profit of the company slid, however, to USD 2.8 million in Q2 this year, compared to USD 4.5 million in the year-ago period, it said.

"LinkedIn had a strong second quarter with all of our key operating and financial metrics showing solid performance," LinkedIn CEO Jeff Weiner said.

The better-than expected growth came amid investors turning cautious on leading Internet companies such as Facebook, Groupon and Zynga.

 

Revenue from all its three segments -- hiring solutions, marketing solutions and premium subscriptions -- rose during the quarter.

"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," Weiner added.

Revenue from hiring solutions products more than doubled to USD 121.6 million, as compared to the second quarter of 2011. Revenue from marketing solutions products increased by 64 per cent to USD 63.1 million.

Revenue from premium subscriptions products totalled USD 43.5 million, an increase of 82 per cent compared to the second quarter of 2011 and represented 19 per cent of total revenue in the second quarter of 2012, LinkedIn said.

"Strong performance across our three product lines drove record levels of revenue and adjusted EBITDA," LinkedIn CFO Steve Sordello said.

Revenue from the US was USD 147.3 million, 65 per cent of total in the second quarter of 2012, while revenue from international markets was USD 81 million.

"As we continue to invest aggressively in technology, product, and our businesses, we remain focused on achieving our long-term goals," Sordello added.

The company has revised upwards the revenue guidance for the third quarter in the range of USD 235 million to USD 240 million.

Full year guidance of LinkedIn now stands revised upwards in the range of USD 915 million to USD 925 million, from the earlier range of USD 880 million to USD 900 million.

Headquartered in the Silicon Valley, LinkedIn has more than 175 million members worldwide.

  

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First Published: Aug 03 2012 | 3:36 PM IST

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