LinkedIn posts 120 per cent rise in revenue
05 Aug 2011
The first major barometer of investors' social media appetite, networking site for professionals, LinkedIn, beat Wall Street's second-quarter estimates in its first earnings report after it went public in May.
The company reported a 120-per cent rise in revenues between April and June reporting its first results as a publicly-traded company.
The business-oriented web site, which recently took the second spot after Facebook, among social media sites said its member base had reached around 116 million, up 61 per cent from the year-ago quarter.
"In the second quarter, we saw record levels of members, unique visitors and page views, while revenue growth further accelerated," CEO Jeff Weiner said in a prepared statement.
This member surge comes with the company's aggressive expansion abroad. The firm opened regional headquarters in both Asia and Northern Europe during the quarter, bringing the total number of offices outside the US to 12, it said.
LinkedIn is also preparing to launch new products, including its Apply With LinkedIn feature, which was introduced last week. With the service, members can submit job applications with the click of a button.
