LinkedIn revenue rose 10% year over year (14% in constant currency) to $3.88 billion in the fiscal second quarter ended Dec. 31. Parent company Microsoft Corp. announced earnings Tuesday.

Revenue growth at LinkedIn is expected to slow to the mid-single digits in the third quarter. Microsoft cited a slowdown in hiring along with a decline in advertising spend, although LinkedIn continues to add members, CEO Satya Nadella said.

“We once again saw record engagement among our more than 900 million members,” Nadella said in the second-quarter earnings call with analysts. “Three members are signing up every second. Over 80% of these members are from outside the United States.”

Microsoft CFO Amy Hood said the slowdown in hiring affected the tech industry in particular.

“For LinkedIn, we expect mid-single digits revenue growth with continued strong engagement on the platform, although impacted by the advertising trends noted earlier and a slowdown in hiring, particularly in the technology industry where we have significant exposure,” Hood said.

LinkedIn ranks as the second-largest online job advertising firm in the world.

Total revenue at Microsoft rose 2%, or 7% in constant currency, to $52.75 billion. The earnings announcement came days after Microsoft on Jan. 18 reported that it plans to reduce its workforce by 10,000 through its fiscal third quarter. The company recorded a $1.2 billion charge in the second quarter, which included employee severance expenses of $800 million, impairment charges and costs related to lease consolidation. Microsoft also noted that while it is eliminating roles in some areas, it will continue to hire in other key, strategic areas.

Microsoft also announced this week that it was increasing its investment in OpenAI, which produces ChatGPT.