LinkedIn announced its earnings today, with revenue making an impressive jump up 105 percent, beating street estimates.
The company is a business-centric social network that aims to connect people for networking, job opportunities, resources, and more. In May of 2011, the company completed its initial public offering, to a good reception, but then leveled out in the third quarter. LinkedIn’s revenue topped at $167.7 million in the fourth quarter, 67 percent of which was revenue generated by the United States.
Thirty-three percent of total revenue has actually come from LinkedIn’s Premium Subscriptions. These are pay-to-play subscriptions for heavy users and job seekers. Sales are predicted to total between $840 million and $860 million for the year. The website was the 36th most visited web property in December of 2011, according to a report by comScore.
The company’s stock is up 6 percent in after hours trading. Check out more stats from LinkedIn:
- Fourth quarter revenue was $167.7 million, up 105% compared to $81.7 million for the fourth quarter of 2010
- Fourth quarter net income was $6.9 million, compared to net income of $5.3 million for the same quarter last year
- GAAP EPS for the fourth quarter was $0.06; Non-GAAP EPS for the fourth quarter was $0.12
- For the full year 2011, revenue increased 115% to $522.2 million from $243.1 million. GAAP EPS increased to $0.11 from $0.07 and Non-GAAP EPS increased to $0.35 from $0.24. Adjusted EBITDA increased to $98.7 million from $48.0 million