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LinkedIn Reports $22.8M APAC Revenues For Q4 2012; 202M Users Globally


Professional networking site, LinkedIn, has reported a net income of $11.5 million for the fourth quarter ended December 31, 2012, a significant increase from $6.9 million net income in the corresponding quarter last year. For the year ending 2012, the company posted a net income of $21.6 million, up from $11.9 million net income in 2011.

LinkedIn reported a total revenue of $303.6 million for the quarter, up 81% from $167.7 million during the corresponding quarter last year. For the year ending 2012, LinkedIn reported a total revenue of $972.3 million, up 86% from $522.2 million revenue in 2011.

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Highlights

- During the quarter, LinkedIn crossed the 200 million member milestone and ended the year with 202 million members, up 39% year-on-year (YoY). The company informs that it is continuing to add two new members per second and around 64% of LinkedIn members are from International markets, however it hasn’t disclosed as to how many of these 202 million members are active users.

- The company reported 116 million unique visitors and 9.8 billion page views for the quarter, up from 110 million uniques and 8.9 billion pageviews in the previous quarter and 92 million uniques and 7.6 billion pageviews in Q4 2011, according to comScore metrics. Along with Slideshare, the company reported 154 million unique visitors and 10.2 billion pageviews for the quarter, according to comScore metrics.

- Launched a new redesigned LinkedIn profile during the quarter. LinkedIn mentioned that the number of members updating their profiles in the fourth quarter doubled from Q4 2011, however the company didn’t disclose any specific numbers for the same.

- Introduced LinkedIn Influencers feature in October 2012, to strengthen LinkedIn as a professional publishing platform. LinkedIn mentioned that this feature drove an eight-fold increase in traffic generated by its LinkedIn today product, as compared to the last year, however it didn’t disclose any specific numbers for the same. The company claims to have more than 220 influencers on the portal including the likes of Richard Branson, Deepak Chopra, President Barack Obama, Governor Mitt Romney, David Cameron, Arianna Huffington, Guy Kawasaki, and Hilary Mason among others. Collectively, they had posted more than 2,300 original posts on LinkedIn as of last month.

- Partnered with BlackBerry to pre-install LinkedIn app on BlackBerry 10 devices.

- LinkedIn members have generated more than 550 million endorsements to their colleagues since its introduction in September. Endorsements allows members to endorse their colleagues for specific skills.

- LinkedIn ended the quarter with 3,458 employees, up 9% from 3,177 employees in the previous quarter and up 63% from 2,116 employees in the same quarter last year.

Financials

Talent Solutions: The revenue from talent solutions (previously called Hiring Solutions) stood at $161 million for the quarter, a 90% increase from $84.9 million revenues in the same quarter last year. Hiring solutions accounted for 53% of the company’s total revenues in the quarter, an increase from 51% in Q4 2011.

Marketing Solutions: The revenue from Marketing Solutions stood at $83.2 million for the quarter, a 68% increase from $49.2 million revenues in the same quarter last year. Marketing solutions accounted for 27% of the company’s total revenues in the quarter, down from 30% in Q4 2011.

Premium Subscriptions: The revenue from Premium Subscriptions stood at $59.4 million for the quarter, a 79% increase from $33.3 million revenues in the same quarter last year. Premium subscriptions accounted for 20% of the company’s total revenues in the quarter, as compared to 20% in Q4 2011.

US vs International Revenues: Revenues from the United States stood at $189 million for the quarter, accounting for 62% of the company’s total revenues in Q4 2012 while the revenues from International markets stood at $114.6 million for the quarter, accounting for 38% of the company’s total revenue in Q4 2012.

Revenues Across Geographies: Revenue from International markets include revenues from the Asia-Pacific region (APAC) which reported $22.8 million revenue, up 27% sequentially and 108% YoY, the Europe, the Middle East and Africa (EMEA) regions which reported $69.9 million revenue, up 28% sequentially and 97% YoY, and other Americas which reported $21.9 million revenue, up 28% sequentially and 116% YoY.

Field sales v/s Direct Sales: Revenues from the field sales channel stood at $178.4 million for the quarter, accounting for 57% of the company’s total revenue in Q4 2012 while the revenues from the online direct sales channel stood at $125.3 million, accounting for 41% of the company’s total revenue in Q4 2012.

- Corporate Solution Customers: LinkedIn reported 16,409 corporate solution customers for the quarter, up 17% from 13,991 customers in the previous quarter and up 78% from 9,236 members in Q4 2011.

Future Outlook: LinkedIn expects to register a revenue in the range of $305 million to $310 million and adjusted EBITDA in the range of $67 million to $69 million, for the fourth quarter of 2012. For the full year 2013, the company expects to generate revenue in the range to $1.41 billion to $1.44 billion and the adjusted EBITDA is expected in the range of $130 million to $135 million.

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