Thursday, 3 May 2012
LinkedIn Beats The Street, Q1 Revenue Up 101 Percent To $188.5M; Net Income Up 140 Percent
Professional social network LinkedIn has just released Q1 earnings. Revenue for the first quarter was $188.5 million, an increase of 101% compared to $93.9 million in the first quarter of 2011. Net income for the first quarter was $5 million, compared to net income of $2.1 million for the first quarter 2011, in increase of 140%. Non-GAAP EPS for the first quarter was $0.15. Analysts expected earnings of $0.09 cents per share, with quarterly revenue in at $179 million. Clearly, the company blew past Wall Street expectations. ?LinkedIn?s solid performance in the first quarter built on the company?s momentum in 2011,? said Jeff Weiner, CEO of LinkedIn. ?We saw strength across all key metrics from member signups and engagement to significant revenue growth across our three product lines.?