LinkedIn has become the premier professional networking online site. On Feb. 7, 2013,
Money News reported on a Bloomberg story, LinkedIn Results Take Off as Membership Swells. LinkedIn Corp., which is the biggest online professional-networking service, has reported fourth-quarter sales and profit that beat estimates as marketers increased spending on the website and the company added subscribers. LinkedIn has said revenue for the firm jumped 81 percent to $303.6 million, which beat the average analyst estimate of $279.7 million.
Profit for the firm, excluding some items, was 35 cents a share, which topped the average 19-cent projection. Advertisers have been more interested than ever in LinkedIn’s site as membership swelled 8 percent to 202 million, from 187 million in the prior quarter. LinkedIn has continued to establish itself as the most popular site for job seekers across many industries, with the company selling more subscriptions to help recruiters find the right people. The revenue from talent solutions products rose 90 percent to $161 million, accounting for 53 percent of total sales.
MercuryNews.com has also reported on how well LinkedIn has been doing, LinkedIn earnings destroy projections, stock shoots higher. LinkedIn has had an uninterrupted streak of exceeding analysts' projections for both earnings and revenue. The firm marked the seventh consecutive quarter since LinkedIn's May 2011 IPO that the company has accomplished that. LinkedIn's stock has tripled from its initial public offering price of $45, with a recent price quote of $135.80.