February 7, 2014
Increase of 47 Percent When Compared To Same Time Last Year
LinkedIn has come out of 2013 in a “strong” position with revenue of $447.2 million in the year’s final three months.
The Internet company — which allows professionals across the globe to network and interact — released its fourth quarter numbers Thursday disclosing revenue that increased 47 percent when compared to the $303.6 million in the same quarter of 2012.
The figures surpassed the company’s own predictions of $415 million to $420 million.
Not showing such an impressive growth, however, was the company’s net income. In 2012’s final quarter LinkedIn reported $11.5 million in net income, nearly $8 million more than the $3.8 million in last year’s final quarter.
The company’s CEO, Jeff Weiner, stated in a release that 2013 ended with “solid fourth-quarter performance” in a year where LinkedIn made improvements across its platform.
“Moving forward, we are investing significantly in a focused number of long-term initiatives that will allow us to realize our vision to create economic opportunity for every member of the global workforce,” said Weiner.
The final quarter of the year featured new initiatives from LinkedIn including a re-imagined iPad app and a Pulse app designed to give users the most relevant news and insights.
That’s key as 41 percent of the traffic LinkedIn sees now is through mobile devices.
“We ended 2013 in a strong position across engagement and monetization, and we are investing aggressively in 2014 for both our member and customer platforms,” LinkedIn chief financial officer Steve Sordello said.
Looking toward the end of the first quarter for 2014, LinkedIn is forecasting revenue in the neighborhood of $455 million to $460 million. The entire year, it is anticipated, could bring revenue as high as $2.05 billion.
W. Brice McVicar is a staff writer for SiteProNews.