LinkedIn beats the street, reports revenue of $363.7 million in second quarter

LinkedIn again posted a solid earnings quarter, beating analyst estimates and showing further growth in both users and revenue. The company posted its second quarter earnings on Thursday, reporting revenue of $363.7 million, which beats analyst expectations of $353.85 million. The company saw second-quarter earnings of $0.38 per share excluding one-time charges, compared to analyst expectations of $0.31 per share.

The revenue $363.7 million demonstrates an increase of 59 percent over revenue from the same quarter last year, which was $228.2 million. The company reported $3.7 million in net income and non-GAAP net income of $44.5 million, which translated to earnings per share of $0.38 per share.

LinkedIn saw an increase in the number of registered users this quarter, jumping to 238 million people, representing a 37 percent increase year-over-year. This is up slightly from the 225 million registered users reported in July, but it still doesn’t tell the whole story on how many people actually visit LinkedIn on a regular basis, since the company doesn’t provide monthly user stats.

“Accelerated member growth and strong engagement drove record operating and financial results in the second quarter,” Jeff Weiner, LinkedIn’s CEO said in a statement.

The company said its seen a dramatic increase in pageviews on both desktop and mobile over the past year, Weiner said on the call. He said unique visitors to LinkedIn grew 45 percent year-over-year, and users are now viewing 45 million profiles per day on the site.

“The homepage is up over 2X year-over-year, driven by things like Linkedin Today and the influencer program,” he said. “We’ve also seen nice growth on the mobile front.”

Talent solutions, or the corporate recruiting product that LinkedIn sells, remains the most profitable part of the business. This quarter it accounted for 56 percent of total revenue, bringing in $205.1 million, compared to its share of the revenue last quarter, which was $184.3 million that accounted for 57 percent of revenue. Marketing brought in another 24 percent of the revenue, and premium subscriptions brought in 20 percent.

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