MOUNTAIN VIEW, Calif., May 2, 2013 (GLOBE NEWSWIRE) -- LinkedIn Corporation (NYSE:LNKD), the world's largest professional network on the Internet, with more than 225 million members, reported its financial results for the first quarter of 2013:
- Revenue for the first quarter was $324.7 million, an increase of 72% compared to $188.5 million in the first quarter of 2012.
- Net income for the first quarter was $22.6 million, compared to net income of $5.0 million for the first quarter of 2012. Non-GAAP net income for the first quarter was $52.4 million, compared to $16.9 million for the first quarter of 2012. Non-GAAP measures exclude tax-affected stock-based compensation expense and tax-affected amortization of acquired intangible assets.
- Adjusted EBITDA for the first quarter was $83.4 million, or 26% of revenue, compared to $38.1 million for the first quarter of 2012, or 20% of revenue.
- GAAP diluted EPS for the first quarter was $0.20; Non-GAAP diluted EPS for the first quarter was $0.45.
"Q1 was a strong quarter for LinkedIn with member engagement and financial results reaching record levels," said Jeff Weiner, CEO of LinkedIn. "We remained focused on delivering great products that increasingly make LinkedIn the essential daily resource for global professionals."
First Quarter Financial Details and Operating Summary
- Talent Solutions: Revenue from Talent Solutions products totaled $184.3 million, an increase of 80% compared to the first quarter of 2012. Talent Solutions revenue represented 57% of total revenue in the first quarter of 2013, compared to 54% in the first quarter of 2012.
- Marketing Solutions: Revenue from Marketing Solutions products totaled $74.8 million, an increase of 56% compared to the first quarter of 2012. Marketing Solutions revenue represented 23% of total revenue in the first quarter of 2013, compared to 25% in the first quarter of 2012.
- Premium Subscriptions: Revenue from Premium Subscriptions products totaled $65.6 million, an increase of 73% compared to the first quarter of 2012. Premium Subscriptions represented 20% of total revenue in the first quarter of 2013, consistent with the first quarter of 2012.
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