April 29, 2016
LinkedIn pleased its investors Thursday evening with better-than-expected first quarter results.
The professional social networking firm posted a 35 percent revenue increase year-over-year to $861 million and adjusted earnings per share of 74 cents — up substantially from the predicted 60 cents.
LinkedIn’s surprising results saw shares rise five percent.
“Q1 represented a strong quarter for both our member platform and business lines, with increasing engagement via our Flagship app strengthening the foundation for continued growth across our diverse enterprise offerings,” LinkedIn CEO Jeff Weiner said in a conference call with investors and analysts. “At the same time, we remain focused on long-term profitability by driving greater leverage and ROI across our entire portfolio.”
LinkedIn’s Talent Solutions brought in $558 million, up a whopping 41 percent compared to the year-ago quarter while its Marketing Solutions rose 29 percent to $154 million and Premium Subscriptions was up 22 percent to $149 million.
Page views per unique visiting member hit an all-time high, spiking 23 percent year-over-year.
Chief financial officer Steve Sordello said LinkedIn had added a “healthy level” of new accounts in the quarter, “with modest acceleration in large enterprise customer additions.”
“We are off to a good start to 2016. We are building momentum in member engagement, achieved solid results in our core and emerging businesses, and generated strong adjusted EBITDA and record operating cash flow,” Sordello said during the call. “Finally, we are positioned to create greater leverage through increasing profitability and growing free cash flow. As we invest for the long term, we will continue to pursue the realization of our mission while focusing on capturing the large and growing opportunity ahead of us.”
Jennifer Cowan is the Managing Editor for SiteProNews.