LinkedIn published much better-than-expected second quarter financial results after the bell on Thursday.
The tech giant posted a net loss of $68 million, or 53 cents per share (statement).
Non-GAAP earnings were 55 cents per share on a revenue of $712 million, up 33 percent year-over-year.
Wall Street was looking for earnings of 30 cents per share with $679.80 million in revenue.
The professional social network also now stands at roughly 380 million members worldwide.
"For Talent Solutions, Q2 saw solid progress against our broader efforts to position the business for long-term success," reflected LinkedIn CEO Jeff Weiner, in the report. "As we discussed on our last call, Q1 was a period of operational transition as we re-segmented a significant portion of our sales force."
Out of LinkedIn's three main divisions, Talent Solutions posted the most revenue and highest annual growth rate with $443 million during the quarter, up 38 percent from the same time last year.
"In Talent Solutions, we are encouraged by improving execution from the first quarter's customer re-segmentation as well as changes in our online jobs and subs products," explained LinkedIn CFO Steve Sordello, in prepared remarks. "In addition, we are excited about a robust product pipeline that will add major improvements to our core products for the first time in several years."
Marketing Solutions revenue followed with $140 million, up 32 percent, while Premium Subscriptions delivered $128 million, an increase of 22 percent compared to the same quarter last year.
Weiner outlined the company's "re-envisioning" for its desktop and mobile app portfolio, which will be fine-tuned around the following five pillars: Feed, Profile, My Network, Messaging, and Search.
For the current quarter, Wall Street is looking for non-GAAP earnings of 43 cents per share with $743.68 million in revenue.
LinkedIn responded with a Q3 revenue guidance range of $745 million to $750 million with earnings of 43 cents per share.
For the full year, LinkedIn is projecting revenue of $2.94 billion, which would translate to annual growth of 33 percent, with $2.19 earnings per share.
More numbers to know from LinkedIn's Q2:
- LinkedIn has more than 10 million members in China, up from four million last February, making China its second largest market for new signups behind the United States.
- The platform hosts approximately four million active job listings, compared to roughly one million a year ago.
- The Job Search app has had three million activations, up from approximately one million during the first quarter.
- Unique visitors to jobs-related pages was up 40 percent year-over-year in June, compared to 10 percent in January.
- Within the company, LinkedIn's summer intern pool has jumped from 70 four years ago to 350 worldwide this year.
- With the closed $1.5 billion acquisition of Lynda.com, LinkedIn added 6,800 courses through 280,000 videos in five languages. It is said to be adding more than 150 courses per month.
- The number of long-form posts published to LinkedIn per week increased to more than 130,000 during the quarter.
- LinkedIn promises it is working on reducing inbox clutter. Weiner cited, "For every 10 emails we used to send, we've removed 4 of them."
Slides via LinkedIn Investor Relations