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LinkedIn (LNKD: NYSE) the online professional network last week reported revenue during the fourth quarter of 2013 of USD 447.2 million, an increase of +47% compared with USD 303.6 million during the same quarter last year.
The company reported that net income for the period was USD 3.8 million, a drop of -67% compared with a net income of USD 11.5 million a year ago. During the fourth quarter, LinkedIn’s membership rose by +37% to 276.8 million, up from 201.9 million in Q4 2012.
In addition to beating expectations, LinkedIn also announced last week the acquisition of Bright, a data insight and matching technology company that helps connect prospects to employers, for USD 120 million.
Jeff Weiner, CEO of LinkedIn, commented: “[A] solid fourth quarter performance capped another successful year where improvements in scale and relevance across our platform led to strong member engagement. Moving forward, we are investing significantly in a focused number of long-term initiatives that will allow us to realise our vision to create economic opportunity for every member of the global workforce.”
Revenue from the company’s Talent Solutions business totalled USD 245.6 million, an increase of +53% compared to the fourth quarter of 2012. Talent Solutions revenue represented 55% of total revenue in the fourth quarter of 2013, compared to 53% in the fourth quarter of 2012
Regionally, the United States remains LinkedIn’s largest market, reporting revenue of USD 271.1 million, and representing 61% of total revenue in the fourth quarter of 2013. Revenue from international markets totalled USD 176.1 million, and represented 39% of total revenue in the fourth quarter of 2013; 24% in EMEA, 8% in APAC, and 7% in Other Americas.
Looking forward, the company expects to report revenue for Q1 2014 of between USD 455 million and USD 460 million. Steve Sordello, CFO of LinkedIn, added: "We ended 2013 in a strong position across engagement and monetisation, and we are investing aggressively in 2014 for both our member and customer platforms.”