LinkedIn Q1 revenues up 72% to $324.7M, premium subscriptions grow 73% to $65.6M
Professional networking site LinkedIn saw revenues rising 72 per cent to $324.7 million in the first quarter ended March 31, 2013, over the year-ago period. Revenues from the key US market represented 62 per cent of the total at $201.4 million while international markets accounted for the rest.
According to the company, revenue from talent solutions products rose 80 per cent to $184.3 million and represented 57 per cent of the total revenue in 2013. In April, the company also launched a redesigned version of Recruiter, its flagship Talent Solutions product platform.
Revenue from marketing solutions products increased 56 per cent to $74.8 million and revenue from premium subscriptions products increased 73 per cent to $65.6 million.
The company's EBITDA for the first quarter was 26 per cent of the revenues at $83.4 million, compared to $38.1 million in 2012, or 20 per cent of the revenues. Net income increased to $22.6 million, compared to $5 million in Q1 2012.
LinkedIn claims its member base grew to 218 million due to optimisation initiatives and new sign-ups increased to more than two per second. In Q4 2012, the company said it had registered 200 million users.
Recently, LinkedIn upgraded its mobile app for the Android and the iOS platforms. The upgraded version offers personalised navigation pages for professionals, so that they can customise their LinkedIn mobile experience.
The company is expecting to mark revenues between $342 million and $347 million in Q2 2013 and EBITDA between $77 million and $79 million. Also, for the entire 2013 financial year, it is expecting revenues to range between $1.43 billion and $1.46 billion.
(Edited by Sanghamitra Mandal)