LinkedIn continues to trounce analyst expectations with Q1 earnings report
LinkedIn has spent much of the few months fine-tuning the user experience while also ramping up its digital publishing scheme.
Let's see how the professional social network did on its first quarter earnings report.
The Mountain View, Calif.-based operation reported first quarter earnings of $22.6 million, or 20 cents a share (statement). Non-GAAP earnings were 45 cents a share on a revenue of $324.7 million.
Wall Street was expecting LinkedIn to report first quarter earnings of 31 cents a share on revenue of $317.08 million.
Revenue also leapt across all three of LinkedIn's core units. Here's a breakdown:
- Talent Solutions: $184.3 million, up 80 percent annually
- Marketing Solutions: $74.8 million, up 56 percent annually
- Premium Subscriptions: $65.6 million, up 73 percent annually
Revenue from the U.S. alone totaled $201.4 million, accounting for 62 percent of total Q1 revenue. International markets accounted for $123.3 million, or 38 percent of the entire pie.
CEO Jeff Weiner commented in prepared remarks:
Q1 was a strong quarter for LinkedIn with member engagement and financial results reaching record levels. We remained focused on delivering great products that increasingly make LinkedIn the essential daily resource for global professionals.
Undoubtedly, the first quarter was very strong for LinkedIn, and Q2 could be even better.
In the statement, LinkedIn said its member base grew to 218 million.
But the social network also noted earlier in the report that it now retains "more than 225 million members," suggesting that LinkedIn added seven million new users in the month of April alone.
For the outlook, LinkedIn provided Q2 revenue guidance of $342 million to $347 million. For the year, LinkedIn upped the prediction by $20 million to a range of offered a range of $1.430 billion to $1.460 billion in revenue.
But analysts are still expecting an average of $359.24 million for Q3 revenue and at least $2.09 billion by the end of the year.
Chart via LinkedIn Investor Relations