LinkedIn reports 18 pc increase in its user base for Q3

NEW DELHI:LinkedIn has released its third quarter earnings report with revenue of $960 million, an annual increase of 23 percent, and an earnings per share of $1.18 beating Wall Street expectations of $959 million and EPS of $0.91.

The revenues for the company have increased 23 percent on a yearly basis. Also, the company reported a non-GAAP net income of $163 million — excluding $2 million spent on merger transactions.

For any social platform, it’s user base defines its success. Notably, membership for the networking platform continue to improve as LinkedIn now counts 467 million users, a 17 million boost from last quarter and an 18 percent year-over-year increase. It also added that mobile now accounts for 60 percent of all traffic on LinkedIn and is growing at double the rate of its desktop service.

“In Q3, continued product investments across our platform drove another quarter of strong engagement and financial performance. As we look forward, our combination with Microsoft creates the opportunity for us to dramatically increase the impact and scale with which we deliver value to our members and customers,” said Jeff Weiner, CEO of LinkedIn.

Continuing the previous trend, Talent Solutions has produced the most revenue, $623 million, which is a 24 percent annual increase. Marketing Solutions, which involves its sponsored content, has also grown 26 percent to $175 million, while Premium Subscriptions for sales professionals has gone up 17 percent to $162 million.

Because, Microsoft and LinkedIn are expected to close the acquisition deal by the end of this year, so LinkedIn said it will not be updating its fiscal 2016 outlook and nor did it post forecast for the next(or fourth) quarter.