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LinkedIn Made $167.7 Million In Revenue Last Quarter
A few tech companies fell short of Wall Street expectations at the end of last year, but a few have bettered expectations. One such tech company is professional social network LinkedIn, who released 2011 Q4 figures recently.
According to the release LinkedIn had better than expected fourth quarter performance with revenues of $167.7 million. This performance was a huge jump on numbers recorded in Q4 2010 when LinkedIn only managed to $81.7 million. Needless to say analysts on Wall Street were very impressed with this whopping 105% increase in revenue performance. CEO Jeff Weiner put it like this: “Q4 once again exceeded our expectations for member engagement and business growth. It was a fitting end to a memorable year in which we reinforced our position as the pre-eminent professional network on the web.”
The performance is particularly noteworthy because many had expected the social networking company to struggle amidst the economic uncertainties that currently prevail. Perhaps what LinkedIn is showing that the efforts of people who are looking to provide jobs and put back some life in the American economy are online—doing all the social networking.
2012 will be a test for all tech companies, but if the momentum is carried forward by companies like LinkedIn, Wall Street may find itself blushing.