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LinkedIn Announces Third Quarter 2013 Financial Results

MOUNTAIN VIEW, Calif., Oct. 29, 2013 (GLOBE NEWSWIRE) -- LinkedIn Corporation (NYSE:LNKD), the world's largest professional network on the Internet, with more than 259 million members, reported its financial results for the third quarter of 2013:

  • Revenue for the third quarter was $393.0 million, an increase of 56% compared to $252.0 million in the third quarter of 2012.  
  • Net loss for the third quarter was $3.4 million, compared to net income of $2.3 million for the third quarter of 2012. Non-GAAP net income for the third quarter was $46.8 million, compared to $25.1 million for the third 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 third quarter was $92.8 million, or 24% of revenue, compared to $56.0 million for the third quarter of 2012, or 22% of revenue.  
  • GAAP diluted EPS for the third quarter was $(0.03); Non-GAAP diluted EPS for the third quarter was $0.39.

"Increased member growth and engagement helped drive strong financial results in the third quarter," said Jeff Weiner, CEO of LinkedIn. "We continue to deliver value to professionals through investment in core products and strategic initiatives such as mobile, students, and the professional publishing platform."

Third Quarter Financial Details and Operating Summary

  • Talent Solutions: Revenue from Talent Solutions products totaled $224.7 million, an increase of 62% compared to the third quarter of 2012. Talent Solutions revenue represented 57% of total revenue in the third quarter of 2013, compared to 55% in the third quarter of 2012.  
  • Marketing Solutions: Revenue from Marketing Solutions products totaled $88.5 million, an increase of 38% compared to the third quarter of 2012. Marketing Solutions revenue represented 23% of total revenue in the third quarter of 2013, compared to 25% in the third quarter of 2012.  
  • Premium Subscriptions: Revenue from Premium Subscriptions products totaled $79.8 million, an increase of 61% compared to the third quarter of 2012. Premium Subscriptions represented 20% of total revenue in the third quarter of 2013 and 2012.

Revenue from the U.S. totaled $245.3 million, and represented 62% of total revenue in the third quarter of 2013. Revenue from international markets totaled $147.7 million, and represented 38% of total revenue in the third quarter of 2013.

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