Social networking site for professionals, LinkedIn, has unleashed its impressive fourth quarter results – and its Marketing Solutions division is riding high.
During the Q4 period ended December 31 2012, the US-founded online business network, which utilises its platform by selling premium subscription accounts, adverts and recruitment services to businesses, reached its 200 million member milestone.
Revenue from its Marketing Solutions segment during the three month period totalled $83.2 million - an increase of 68% compared to the fourth quarter of 2011.
Revenue from LinkedIn’s Talent Solutions division, which focuses more on recruiters, totalled $161.0 million, an increase of 90% compared to Q4 2011.
CFO of LinkedIn, Steve Sordello, said: “Continued investment in our talent and technology infrastructure drove momentum in both product and monetization, resulting in record revenue, profitability, and cash flow.”
Total revenue for the fourth quarter was $303.6 million, representing an increase of 81%, in contrast to $167.7 million in the fourth quarter of 2011. Net income was $11.5 million, compared to net income of $6.9 million during the same period in 2011.
In its Q4 report, LinkedIn said it continues to add approximately two members per second, and more than 64% of LinkedIn members now come from international markets.
For the full year of 2012, revenue increased 86% to $972.3 million, from $522.2 million. Revenue from international markets totalled $114.6 million, which represented 38% of total revenue in the fourth quarter of 2012.
Revenue from the US totalled $189.0 million, and represented 62% of total revenue in the fourth quarter of 2012.
In the first quarter of 2013, the business expects its revenue to range between $305 million and $310 million.