February 5, 2016
Jump of 34 Percent Equals $862 Million in Revenue
LinkedIn made “solid progress” in the final quarter of 2015.
The social media site posted its figures for the year’s final quarter noting an overall revenue increase of 34 percent to $862 million. The figures surpass what analysts had been expecting.
“Q4 was a strong quarter for LinkedIn, bringing to a close a successful year of growth and innovation against our long-term roadmap,” LinkedIn chief executive officer Jeff Weiner stated in a company release. “We enter 2016 with increased focus on core initiatives that will drive leverage across our portfolio of products.”
The success of 2015, the company explained in a statement, can be linked to solid progress against long-term product strategy to create value for members by connecting them to opportunity. LinkedIn launched its reimagined flagship app in December, created a more streamlined experience for members to follow personalized and relevant content in the feed, and continued to scale the number of jobs on the platform to now more than six million open listings.
Looking ahead, the first quarter of 2016 is expected to see an estimated revenue of $820 million. The entire year, however, should be that figure climb to between $3.6 and $3.65 billion.
Despite the figures, reports CNBC, LinkedIn shares took a tumble in after hour trading Thursday. Company shares dropped nearly 30 percent following the news with the figures expected for 2016 not meeting expectations.
W. Brice McVicar is a staff writer for SiteProNews.