Analysts had expected LinkedIn’s earnings at $.09 cents per share, with quarterly revenue in at $179 million, well against the run of play, LinkedIn has out done those predictions and in its release of first quarter financial results the company has reported Q1 revenue at $188.5 million, an increase of 101% compared to $93.9 million in the first quarter of 2011.
Here are some more facts and figures that matter from LinkedIn’s Q1 results:
The Big news is that the company’s net income for the first quarter was $5 million, compared to net income of $2.1 million for the first quarter 2011, which indicates an increase of 140%.
Non-GAAP net income for the first quarter was $16.9 million, compared to $5.8 million for the first quarter of 2011.
Adjusted EBITDA for the first quarter was $38.1 million, or 20% of revenue, compared to $13.3 million for the first quarter of 2011, or 14% of revenue.
LinkedIn's latest offering is LinkedIn for iPad.
“LinkedIn’s solid performance in the first quarter built on the company’s momentum in 2011 … We saw strength across all key metrics from member signups and engagement to significant revenue growth across our three product lines” – Jeff Weiner, CEO, LinkedIn.
Here’s a break down of the factors that contributed to the world’s largest professional network’s stunning 101% revenue growth since Q1 of 2011:
Revenue from Hiring Solutions products totaled $102.6 million, an increase of 121% compared to the first quarter of 2011. Hiring Solutions revenue represented 54% of total revenue in the first quarter of 2012, compared to 49% in the first quarter of 2011.
Revenue from Marketing Solutions products totaled $48.0 million, an increase of 73% compared to the first quarter of 2011. Marketing Solutions revenue represented 26% of total revenue in the first quarter of 2012, compared to 30% in the first quarter of 2011.
Revenue from Premium Subscriptions products totaled $37.9 million, an increase of 91% compared to the first quarter of 2011. Premium Subscriptions represented 20% of total revenue in the first quarter of 2012, compared to 21% of revenue in the first quarter of 2011.
“LinkedIn grew over 100% for the seventh consecutive quarter and achieved records for adjusted EBITDA, operating and free cash flow … We remain focused on investing in our technology and product platform as well as expanding our business in new international markets and customer segments.” – Steve Sordello, CFO, LinkedIn.
It must be noted that LinkedIn has been actively trying to improve its services and offer its users a better, more compelling experience on the website. In this effort the company has already introduced a new version of People You May Know earlier in March.
The company launched an embeddable “Follow” button that companies can add to their websites in February. And of course there was LinkedIn’s acquisition of contact manager Rapportive official. Also Last week the company made its presence felt on the iPad consumer arena, by launching its iPad app.
With so much on offer for the professional user, and the Q1 results to show for their hard work, you can be rest assured that LinkedIn will be a force to be reckoned with in the Social Network arena, and can not be underestimated by its rivals.
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