The earnings report included the following information:
Revenue was up 89%, at $228.2 million, versus last years 2nd Q amount of $121 million. The net income for this quarter was reported at $2.8 million, which is a loss compared to the $4.5 million reported last year. NON-GAAP income came in at $18.1 million, against the posted amount of $10.8 million, from the same time period last year. The adjusted EBITDA for this quarter was 22%, or $50.4 million, while last years report for the same quarter was $26.3 million.
Company CEO, Jeff Weiner, announced in his statement, "LinkedIn had a strong 2nd quarter, with all of our key operating and financial metrics showing solid performance. Our ongoing investment in product innovation drove healthy engagement, as measured by unique visiting members, and member page views, and our 3 revenue streams all experienced significant growth."
The company generated $121.6 million in revenue from its hiring solutions, while marketing hit a total of $63.1 million. These amounts represent a 107% growth, and a 4% loss as compared to last year. Premium memberships brought $43.5 million in revenue, which is an 82% increase and represents 19% of total revenue for this quarter. The sales channel brought 57% of the company's revenue, and an amount of $129.4 million.
The report also included a list of accomplished goals for the 2nd quarter, which entailed several important strategic plans. Linkedin Corporation (NYSE:LNKD) launched its first app for the iPad, as well as releasing targeted status updates to its users with active company profiles.
They announced that they expect to $915 to $925 million for the year. Which is an increase from previous estimates of $800 to $900 million.
It will be a good year for Linkedin Corporation (NYSE:LNKD) as they attempt to compete with giants like Facebook Inc (NASDAQ:FB) and Google's Google+. Facebook reported its earnings last month, as can be seen here on ValueWalk.