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LinkedIn revenue up 9%, video is fastest-growing format

LinkedIn revenue up 9%, video is fastest-growing format

July 31, 2024
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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. He noted that every minute, 1.5 million pieces of content are shared on the platform and video ranks as the platofrm’s fastest-growing format, 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.