LinkedIn is one of the few internet stocks which hasn’t completely tanked below its IPO price, unlike recent disasters like Facebook, Zynga and Groupon.
It is trading at around $110, after receiving a boost right after it announced its earnings for the second quarter of 2012.
It had a pretty good quarter by all means, with revenue jumping 89% to $228 million. Its net income was around $2.8 million, and reported strong growth metrics.
Jeff Weiner, CEO of LinkedIn, said:
“LinkedIn had a strong second quarter with all of our key operating and financial metrics showing solid performance. Our ongoing investment in product innovation drove healthy engagement as measured by unique visiting members and member page views, and our three revenue streams all experienced significant growth.”
Revenue from Hiring Solutions, LinkedIn’s most valuable business, almost doubled to $122 million, while Marketing Solutions’ revenue increased 64% to $63 million. Premium Subscriptions’ revenue increased 82% to $44 million.
LinkedIn also made quite a few major advances in the last quarter. It launched its first iPad app, and completely revamped the design for its service. It also rolled out its new social news product, LinkedIn Today. It launched features like Targeted Status Updates, as well as Follower Statistics.
LinkedIn ended the quarter with nearly $616 million in cash and short term investments.
It also revised its earnings guidance for FY 2012 upwards, approaching nearly $925 million.
via LinkedIn – SEC