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LinkedIn Posts Spectacular Numbers In First Post-IPO Earnings Report
The people smart enough to grab shares in LinkedIn during its recent IPO must be grinning from ear to ear right now. The markets may be down today, but investor confidence in LinkedIn is most definitely high.
The thriving business social network posted spectacular earnings numbers today—its first earnings report since going public. According to the figures released, Linkedin generated $121 million in revenue, as well as $4.5 million in income (after tax) for Q2. These figures means that LinkedIn has surpassed initial Wall Street expectations of its stock, something its CEO would be very proud of, I am sure. The $121 million in revenue doubles the $54.9 million earned over the same period in 2010.
But healthy revenue and profit figures are not the only things LinkedIn has to boast about. According to additional stats released, the social network has also seen massive growth in its user base. Membership is now 115.8 million, up 61% from last year. Numbers are also soaring sky high for unique visitors (up 83% to 81.8 million per month) as well as page views (up 80% to 7.1 billion).
Things are obviously good in the tech space, but LinkedIn will be hoping it can continue trading positively under the weight of a wider market downturn. Its shares lost 9.59% today as result of the decline in the markets, so clearly maintaining a healthy social network is not sufficient protection. The numbers though, are impressive, and if LinkedIn can keep getting things right, it should continue to grow.
Are you one of LinkedIn’s 115.8 million members? Watch the video below to see more about its recent IPO.