LinkedIn’s Revenue Up 81% in Third Quarter
Talent Solutions, or its hiring solutions business, made up 55% of revenue with $138.4 million, and increased 95% over the third quarter of 2011. Marketing Solutions, or advertising on the site, represented 25% of revenue at $64 million. The Premium Subscriptions business for users was 20% of overall revenue, at $49.6 million.
The company reported that full year earnings should be between $202 million and $204 million, sending the share price of the company up in after-hours trading.
But while LinkedIn has proven successful and pleased Wall Street, it is still vulnerable in the same ways as other public social networking companies like Facebook. Executives on the earnings call were pressed about LinkedIn’s prospects on mobile. The company has introduced several new elements and tools, such as the updated profile pages, ability to follow famous executives and business people, and the Sales Navigator for connecting salespeople to clients. But many see mobile as a place of growth for the future—and one that LinkedIn needs to figure out.
AdWeek looks a little deeper at the mobile monetization question for LinkedIn. CEO Jeff Weiner said, “An increasing area of focus for us is the monetization of our mobile channel,” and highlighted that fact that LinkedIn job listings are now displayed its mobile apps and that the company has been testing display ads in its iPad app.
On the user side, Weiner also announced that LinkedIn now has 187 million members and adds two new members every second.
Are you on LinkedIn? How valuable is it for your career? Will this social site be around for the long haul?