Professional networking site LinkedIn has reported 106 million average unique monthly visiting members for the quarter ended March 31, 2016, (Q1FY16) a slight increase from the quarter ended December 31 when it reported 100 million unique monthly visitors. Mobile accounted for 58% of all its traffic, up from the 57% reported in Q4FY15.
Jeff Weiner, CEO of LinkedIn said, “In the quarter, cumulative members grew 19% to 433 million, our strongest net add quarter since the beginning of 2014. Our core operating metrics saw accelerated growth. Unique visiting members grew 9% to an average of 106 million members a month, and member page views grew 34%. Page views per unique visiting member hit an all-time high in Q1 with 23% year-over-year growth.”
On its mobile launch, Weiner said that “Members are engaging at record levels with the more relevant and comprehensive feed. During the quarter, viral actions increased more than 80%. Daily shares were up nearly 40%, and traffic to third-party publishers grew more than 150%.” The company had launched its app in December last year.
Steve Sordello, CFO of LinkedIn said, “Premium Subscriptions grew to $149 million, up 22% year-over-year, or 25% growth on a constant currency basis, and contributed 17% of revenue versus 19% last year.”
Earnings:
– Total revenue increased 35% year-over-year to $861 million.
– Adjusted EBITDA was $222 million, or 26% of revenue, in Q1.
– Talent Solutions revenue (inclusive of Learning & Development) increased 41% year-over-year in the first quarter to $558 million. Learning & Development revenue contributed $55 million in the first quarter.
– Hiring revenue contributed $502 million in Q1FY16, representing increases of 27% year-over-year.
– Marketing Solutions revenue increased 29% year-over-year in the fourth quarter to $154 million and increased. It represented 26% of the company’s revenues.
– Premium Subscriptions revenue increased 22% year-over-year to $149 million. It contributed 17% of revenue versus 19% last year. Sales Solutions represents approximately 38% of Premium Subscription revenue.
Operational highlights:
– More Lynda.com content to be integrated into the LinkedIn experience and its premium products.
– Acquired Connectifier to strengthen core products and accelerate product roadmap, leveraging machine learning-based searching and technology to help recruiters and hiring managers find the talent.
– 29 of 30 pilot customers purchased enterprise product Elevate.
Download: Results and presentation
Image Credit: JohnnyMrNinja under CC BY 2.0
