LinkedIn reported its earnings for Q3 2012, with revenue increasing to $252 million, up more than 80% year-over-year. Its net income increased to $2.3 million, compared to a loss of $1.6 million last year, despite it continuing to expand rapidly across geographies.
Jeff Weiner, CEO of LinkedIn, said:
“LinkedIn had a strong third quarter with all of our key operating and financial metrics showing solid growth. The last few months mark the most significant period of product development in the company’s history. This accelerated pace of innovation is fundamental to our goal of driving greater engagement on the LinkedIn platform.”
Talent solutions accounted for most of its revenue, with sales increasing to $138.4 million, up 95% year-over-year. Marketing solutions accounted for $64 million in revenue, up 60% year-over-year. Premium LinkedIn subscriptions accounted for $49.6 million in sales, up 74% year-over-year.
Revenue from the US added up to $162.4 million, while international revenue was $89.7 million.
LinkedIn made quite a few improvements in Q3; it redesigned its homepage to make it more social, it also added notifications and launched Endorsements, an easier type of recommendations.
It also upgraded Company Pages to enable companies to engage with professional audiences.
LinkedIn’s cash reserves (and short term investments) increased to $675 million by the end of Q3 2012.