MOUNTAIN VIEW, Calif., July 30, 2015 - LinkedIn Corporation (NYSE: LNKD), the worlds largest professional network on the Internet, with approximately 380 million members, reported its results for the second quarter of 2015. The transcript with prepared remarks is contained within this release. In addition, a supplemental presentation will be made available on the investor relations section of the LinkedIn website at http://investors.linkedin.com.Revenue for Q215 was $712 million, an increase of 33% compared to the same quarter last year; and on a constant currency basis an increase of 38% compared to the same quarter last year.
Talent Solutions revenue (inclusive of Learning & Development) was $443 million, an increase of 38% compared to the same quarter last year.
Marketing Solutions revenue was $140 million, an increase of 32% compared to the same quarter last year.
Premium Subscriptions revenue was $128 million, an increase of 22% compared to the same quarter last year.
GAAP net loss attributable to common stockholders was $68 million; Non-GAAP net income was $71 million.
GAAP diluted EPS was $(0.53); non-GAAP diluted EPS was $0.55.
Adjusted EBITDA was $163 million, or 23% of revenue.
LinkedIn continued to deliver increased member and customer value in the second quarter while delivering solid financial results, said Jeff Weiner, CEO of LinkedIn. We continued to invest in our long-term strategic roadmap and began integrating the acquisition of lynda.com that closed during the quarter.
Second Quarter 2015 Highlights
In the second quarter of 2015, LinkedIn:
Improved its flagship desktop and mobile product experience, leading to approximately 60% increase in year-over-year feed engagement, and search traffic growing meaningfully faster than overall member activity.
Further connected members with professional knowledge by surpassing more than 1 million unique long-from member publishers on LinkedIn, and launched a redesigned Pulse app for iOS and Android, delivering a more personalized news experience.
Further focused on helping members get hired. Unique visiting members to jobs-related pages improved approximately 40% year-over-year, while the recently launched Job Search app reached more than 3 million activations from approximately 1 million during the first quarter. In addition, the number of jobs on the platform also increased to nearly 4 million from approximately 1 million last year.
Closed its acquisition of lynda.com, adding to the LinkedIn platform 6,800 courses through 280,000 videos across five languages.
We saw good progress in executing on transitions across our business, said Steve Sordello, CFO of LinkedIn. We achieved record levels of operating and free cash flow and continue to invest in creating value for members and customers.
Business Outlook
LinkedIn is providing guidance for the third quarter and full year 2015. Further details can be found in the transcript below and the supplemental presentation, which will be made available on the investor relations section of the LinkedIn website at http://investors.linkedin.com:
Q3 2015 Guidance: Revenue is expected to range between $745 million and $750 million. Adjusted EBITDA is expected to be approximately $146 - 148 million. Non-GAAP EPS is expected to be approximately $0.43. The company expects depreciation of approximately $69 million, amortization of approximately $47 million, and stock-based compensation of approximately $128 million. The company also expects approximately 131 million GAAP fully-diluted weighted shares and 133 million non-GAAP fully-diluted weighted shares.
Full Year 2015 Guidance: Revenue is expected to be approximately $2.94 billion. Adjusted EBITDA is expected to be approximately $665 million. Non-GAAP EPS is expected to be approximately $2.19. The company expects depreciation of approximately $278 million, amortization of approximately $135 million, and stock-based compensation of approximately $510 million. The company also expects approximately 129 million GAAP fully-diluted weighted shares and 131 million non-GAAP fully-diluted weighted shares.
Prepared Remarks Jeff Weiner, CEO LinkedIn
Ill start by summarizing the operating results for the second quarter of 2015, and Ill recap some of the key milestones that demonstrate the execution of our strategy.
Ill then turn it over to Steve for a more detailed look at the numbers and outlook.
Q2 was a solid quarter for LinkedIn as we delivered greater member and customer value. We continue to execute against an ambitious R&D roadmap that has led to accelerated product innovation with new product rollouts throughout the remainder of this year. We also made progress working through transitions with our Talent Solutions sales force and the evolution of our Marketing Solutions business. Additionally, we have seen some early success integrating lynda.com.
For Q2, overall revenues grew 33% to $712 million. We delivered adjusted EBITDA of $163 million, and non-GAAP EPS of $0.55 cents.
Q2 cumulative members grew 21% to 380 million, unique visiting members grew 16% to an average of 97 million per month, and member page views grew 37%, an acceleration over Q1s growth rate and well ahead of unique member growth. Mobile continues to grow at double the rate of overall member activity, and now represents 52% of all traffic to LinkedIn.
LinkedIns value proposition is simple -- connect to opportunity. For our members, we do this in three ways: first, connect to your professional world; second, stay informed through professional news and knowledge; and third, get hired and build your career. Our long term investments in these areas are designed with one goal in mind: transform the member experience to increase the value delivered to each professional on LinkedIn. Here are a few highlights of the progress weve made o
