Published February 07, 2013
LinkedIn (LNKD) revealed stronger-than-expected fourth-quarter earnings and sales on Thursday, fueled by new products such as Talent Solutions and an increase in premium subscriptions.
The Mountain View, Calif.-based professional social network with more than 200 million members posted net income of $11.5 million, or 10 cents a share, compared with a year-earlier profit of $6.9 million, or 6 cents.
Excluding one-time items, LinkedIn earned 35 cents a share, topping average analyst estimates of 19 cents in a Thomson Reuters poll.
Revenue for the three-month period climbed 81% to $303.6 million, from $167.7 million, beating the Street’s view of $279.5 million.
“2012 was a transformative year for LinkedIn," said CEO Jeff Weiner. "The products we delivered throughout the year drove member engagement and financial results to record levels in the fourth quarter."
Shares of LinkedIn climbed more than 10% after hours to $136.88. It shares are up 55% over the last 12 months.
The growth in sales was largely attributed to revenue from Talent Solutions products that jumped 90% to $161 million. Revenue from marketing solutions grew 68%, while sales from premium subscriptions climbed 79%.
In the current quarter, LinkedIn sees revenue in the range of $305 million and $310 million, above the consensus view of $301 million.
Looking toward fiscal 2013, it anticipates sales between $1.41 billion and $1.44 billion, mostly in-line with the Street’s view of $1.44 billion.