LinkedIn revenue rises 9%, video is fastest-growing format
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LinkedIn revenue rises 9%, video is fastest-growing format
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LinkedIn revenue rose 9% year over year in constant currency in parent company Microsoft’s (NASDAQ: MSFT) fiscal fourth quarter ended June 30. The increase was driven by better-than-expected growth across LinkedIn’s business lines, according to Microsoft.
“LinkedIn continues to see accelerated member growth and record engagement,” Microsoft Chairman and CEO Satya Nadella said in a conference call with analysts. “One-point-five million pieces of content are shared every minute on the platform. And video is now the fastest growing format on LinkedIn, with uploads up 34% year-over-year.”
LinkedIn Premium signups rose 51% in the fiscal year, Nadella said.
Microsoft expects LinkedIn revenue to grow in the high single digits in the first quarter.
Overall, Microsoft fourth-quarter revenue was up 16% year over year in constant currency to $64.7 billion. Net income rose 11% in constant currency to $22.0 billion.