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Social networking group LinkedIn Corp beat third-quarter profit and revenue targets with revenue rising by +81% to US$252.0 million from US$139.5 million a year ago. The company reported its Q3 financials on Thursday which showed that net income in the period was US$2.3 million, compared to a net loss of US$1.6 million for the third quarter of 2011.
Revenue from Talent Solutions (previously named Hiring Solutions) products totalled US$138.4 million, an increase of +95% compared to the third quarter of 2011. Talent Solutions revenue represented over half (55%) of total revenue in the quarter of 2012, up from 51% a year ago.
“They seem to be firing on all cylinders. They continue to penetrate enterprises with their talent solutions business and continue to have plenty of upside opportunity there,” said Macquarie research analyst Tom White to news agency Reuters.
Steve Sordello, CFO of LinkedIn, said: “Increased member activity led to sustained growth across our talent, marketing, and premium product lines… We expect a strong finish to the year behind momentum in both our engagement and monetization platforms.”
The firm now expects fourth-quarter revenue to range between US$270 to US$275 million.