Professional networking site LinkedIn reported a 31% increase in revenues for the second quarter from last year.
On June 11, 2016, LinkedIn entered into a merger agreement with Microsoft where it will acquire the company for $196.00 per share in an all-cash deal valued at $26.2 billion.
Total revenue increased 31% year-over-year to $933 million. The company reported a net loss of about $119 million for the quarter.
“In Q2, we demonstrated good momentum with our member and customers, and delivered strong financial results,” said Jeff Weiner, CEO of LinkedIn. “Continued product innovation drove increased levels of engagement, and strengthened our enterprise offerings. We believe joining forces with Microsoft enables us to further accelerate and scale our ability to deliver value and create economic opportunity for every member of the global workforce.”
In the quarter, total members grew 18% year-over-year to 450 million, unique visiting members grew 9% to an average of 106 million members a month, and member page views grew 32%. This yielded 21% year-over-year growth in page views per unique visiting member.
Talent Solutions revenue increased 35% year-over-year to $597 million.
- Hiring contributed $535 million in revenue, up 26% year-over-year.
- Learning & Development contributed $62 million in revenue.
Marketing Solutions revenue increased 29% year-over-year to $181 million.
- Sponsored Content surpassed 60% of total Marketing Solutions revenue and was the primary driver of growth, driven largely by increase in customer demand.
Premium Subscriptions revenue increased 21% year-over-year to $155 million.
- Sales Navigator remained the faster growing component of Premium Subscriptions, with growth in the field channel continuing to outpace growth in individual online subscriptions.