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LinkedIn revenue rises 7% in Q4, growth in low- to mid-single digits ahead

July 26, 2023

Revenue rose 7% year over year in constant currency at LinkedIn in its fiscal fourth quarter ended June 30; the increase was 5% on a reported basis, according to Microsoft Corp.’s earnings release on Tuesday. Revenue surpassed $15 billion during the quarter at LinkedIn, which ranks as the world’s second-largest job advertising firm. Fourth-quarter revenue in LinkedIn’s Talent Solutions segment — which includes tools to find job candidates — surpassed $7 billion in the fourth quarter. Still, Microsoft expects LinkedIn revenue to grow in the low to mid-single digits in the first quarter of the fiscal year.

“Even with share gains in our hiring business, growth will continue to be impacted by the overall markets for recruiting and advertising, especially in the technology industry where we have significant exposure,” Microsoft CFO Amy Hood said in a conference call with analysts.

However, Microsoft CEO Satya Nadella noted in the fourth-quarter conference call that LinkedIn membership growth has accelerated for eight quarters in a row.

“We continue to use AI to help our members and customers connect to opportunities and tap into experiences of experts on the platform,” Nadella said.

Total revenue at Microsoft rose 8% to $56.19 billion in the fourth quarter, beating analysts’ estimate, according to Yahoo Finance. The increase was 10% in constant currency. For the full year, Microsoft revenue rose 7% to $211.92 billion.