LinkedIn has surpassed Wall Street’s expectations yet again with its stellar fourth quarter.
The company just reported revenue at $303.6 million, an increase of 81 percent from the fourth quarter of the previous year.
Analysts estimate that LinkedIn would report revenue growth of 67 percent, to $280 million, with profits more than tripling to 19 cents per share. The social network for professionals has met or beat on every earnings since going public in May 2011.
Most of the company’s Q4 revenue came from the Talent Solutions products. Revenue totaled $161 million, an increase of 90 percent compared to the fourth quarter of 2011.
As Wired Business reports, the company is on a “financial rampage,” but the big question is whether the market can support two social networks. Facebook’s annual revenue stands at about $5 billion.
But annual revenues aren’t the only success story: the company is adding approximately two members to its network per second. LinkedIn recently hit the 200 million member mark, and according to today’s report, it ended the year with approximately 202 million members. LinkedIn has grown its membership 39 percent year over year.
“2012 was a transformative year for LinkedIn,” said Jeff Weiner, the company’s chief executive in a statement. “We exited 2011 having successfully revamped our underlying development infrastructure. Based on that investment, we said that 2012 would be a year of accelerated product innovation, and it was.”
Filed under: VentureBeat
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