July-end has been all about earnings from numerous new-age companies. Joining that line-up, is world’s largest social media platform for professionals LinkedIn posting an estimate-beating revenue of $712 million for the second quarter.
Beating expectations of analysts, the company’s stock soared up to 14 percent in extended trading after it released its second-quarter results.
Contrary to the figures estimated by the analysts, the company reported a 55 cents per share earnings and revenue of $712 million. Earlier, analysts had pitted the company to make $680.3 million in revenue at 30 cents per share.
The company has also stated that it hopes to score $90 million from Lynda.com for one year. Impacted by lower than anticipated deferred revenue write down and moderate over-performance, earlier the figure stood at $40 million.
LinkedIn hopped $2.94 billion in revenue and earnings of $2.19 per share, for 2015. Analysts on the other hand were looking at $2.91 billion in revenue for the company.
In a detailed breakup of its revenue for the second quarter of 2015, the company said it had 380 million members generating 35 billion page views. Posting an increase in revenue, the company made 33 percent year-over-year from $534 million in the second quarter last year, of which $443 million generated by talent solutions products, making up 62 percent of the company’s quarterly revenue.
LinkedIn’s premium subscriptions business has generated $128 million in revenue this quarter. Its a 5 percent rise compared to $122 million in revenue in the last quarter. The much depended marketing solutions registered an increase in revenue of 32 percent from last year’s $106 million to $140 million in second quarter this year.
Revealing its estimates for the third quarter, the company said it was hoping to generate figures any where between $ 745 million and $750 million along with earnings of 42 cents per share, which is contrary to the figures put forth by Analysts at 42 cents per share on revenue of $744.4 million for the third quarter.
LinkedIn stated its closure for the acquisition of Lynda.com, adding that engagement in its news feed grew 60 percent year-over-year.
In a bid to leverage its 380 million members, LinkedIn is on an acquiring spree to build up its sales and developmental teams.
