LinkedIn Announces Fourth Quarter And Full Year 2013 Results

MOUNTAIN VIEW, Calif., Feb. 6, 2014 (GLOBE NEWSWIRE) -- LinkedIn Corporation (NYSE:LNKD), the world's largest professional network on the Internet, with approximately 277 million members, reported its quarterly results for the fourth quarter of 2013:
  • Revenue for the fourth quarter was $447.2 million, an increase of 47% compared to $303.6 million in the fourth quarter of 2012.  
  • Net income for the fourth quarter was $3.8 million, compared to net income of $11.5 million for the fourth quarter of 2012. Non-GAAP net income for the fourth quarter was $48.2 million, compared to $40.2 million for the fourth 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 fourth quarter was $111.4 million, or 25% of revenue, compared to $78.6 million for the fourth quarter of 2012, or 26% of revenue.  
  • GAAP diluted EPS for the fourth quarter was $0.03, compared to GAAP diluted EPS of $0.10 for the fourth quarter 2012; non-GAAP diluted EPS for the fourth quarter was $0.39, compared to non-GAAP diluted EPS of $0.35 for the fourth quarter of 2012.

"Solid fourth quarter performance capped another successful year where improvements in scale and relevance across our platform led to strong member engagement," said Jeff Weiner, CEO of LinkedIn. "Moving forward, we are investing significantly in a focused number of long-term initiatives that will allow us to realize our vision to create economic opportunity for every member of the global workforce."

Fourth Quarter Operating Summary
  • Talent Solutions: Revenue from Talent Solutions products totaled $245.6 million, an increase of 53% compared to the fourth quarter of 2012. Talent Solutions revenue represented 55% of total revenue in the fourth quarter of 2013, compared to 53% in the fourth quarter of 2012.  
  • Marketing Solutions: Revenue from Marketing Solutions products totaled $113.5 million, an increase of 36% compared to the fourth quarter of 2012. Marketing Solutions revenue represented 25% of total revenue in the fourth quarter of 2013, compared to 27% in the fourth quarter of 2012.  
  • Premium Subscriptions: Revenue from Premium Subscriptions products totaled $88.1 million, an increase of 48% compared to the fourth quarter of 2012. Premium Subscriptions represented 20% of total revenue in the fourth quarter of 2013 and 2012.

Revenue from the U.S. totaled $271.1 million, and represented 61% of total revenue in the fourth quarter of 2013. Revenue from international markets totaled $176.1 million, and represented 39% of total revenue in the fourth quarter of 2013.

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