LinkedIn announces Q4 results
LinkedIn has announced its fourth quarter results. Alongside an increase in revenue and share profit, the online network has also unveiled a significant growth in its number of members.
The fourth quarterly results are higher than predictions by Wall Street analysts, who believed that LinkedIn would reach $160 million (£100.7 million). However, the online network unveiled revenues of $167.7 million and as a result of this, profit is now marked $0.12 per share. Again, this is higher than analysts' expectations of 7 cents per share.
In comparison with the LinkedIn quarterly results from the same period last year, the revenue figure has risen by 105 percent. What's more, the full year results have also dramatically risen by 155 percent, from $243.1 million to $522.2 million.
An increase in professional networking online
Alongside the increased revenue, LinkedIn has also announced a significant growth in its membership. It stated that in November, there were 130 million members and at the year-end, this had increased to 150 million. Jeff Weiner, CEO of LinkedIn, said: "Q4 once again exceeded our expectations for member engagement and business growth. It was a fitting end to a memorable year in which we reinforced our position as the pre-eminent professional network on the web."
The increase in members highlights an exponential growth in the number of people looking to use a professional online network. Richard Frost, managing editor at theEword, stated that: "LinkedIn has been able to secure a strong position in a niche area of online networking. As further people look to engage with business contacts online, they are more likely to turn to the dominant professional networking site that is used by the majority."