LinkedIn posted a basic report earnings last week and the reason is because it’s in the process of being acquired by Microsoft to the tune of $26.2b. As a result, there’s no guidance for the fourth quarter because eventually, it would need to do that with the Microsoft team. But here’s a quick break down of their third quarter earnings.
The largest professional social media company in the world posted some strong earnings too. Third quarter revenue stood at $960m (versus $959m expected) which is up 23 percent from a year ago. Earnings per share was $1.18 versus $0.78 in the same period last year. New membership was up 18 percent to 467 million.
Talent Solutions revenue increased 24% year-over-year to $623 million.
- Hiring contributed $556 million in revenue, up 21% year-over-year.
- Learning & Development contributed $67 million in revenue.
Marketing Solutions revenue increased 26% year-over-year to $175 million.
- Sponsored Content remained the primary driver of growth and is now approaching two-thirds of total Marketing Solutions revenue.
Premium Subscriptions revenue increased 17% year-over-year to $162 million.
- Sales Navigator remained the faster growing component of Premium Subscriptions, across both the field and online channels.
As you see above, LinkedIn ads revenue grew 26 percent to $175m.
They launched LinkedIn Learning; an e-learning portal for individuals and organisations that wish to train their staff online in September. This could be another source or revenue which you may expect to see in future earnings reports.