LinkedIn reports financial results for the first quarter ended March 31, 2013.
MOUNTAIN VIEW, Calif., May 2, 2013 -- LinkedIn Corporation (NYSE: LNKD), the worlds 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.
Revenue from the U.S. totaled $201.4 million, and represented 62% of total revenue in the first quarter of 2013. Revenue from international markets totaled $123.3 million, and represented 38% of total revenue in the first quarter of 2013.
Revenue from the field sales channel totaled $184.0 million, and represented 57% of total revenue in the first quarter of 2013. Revenue from the online, direct sales channel totaled $140.7 million, and represented 43% of total revenue in the first quarter of 2013.
GAAP 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 in the first quarter of 2012.
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 was $0.20 based on 115.4 million fully-diluted weighted shares outstanding compared to $0.04 for the first quarter of 2012 based on 111.3 million fully-diluted weighted shares outstanding. Non-GAAP diluted EPS was $0.45 based on 115.4 million fully-diluted weighted shares outstanding compared to $0.15 for the first quarter of 2012 based on 111.3 million fully-diluted weighted shares outstanding.
Our continued focus on our operating priorities yielded strong results in the first quarter, resulting in record levels of revenue, profitability, and cash flow, said Steve Sordello, CFO of LinkedIn. We remain encouraged by the diversity of our business and size of our market opportunities, and we will continue to invest aggressively to realize LinkedIns long-term potential.
For additional information, please see the Selected Company Metrics and Financials page on LinkedIns Investor Relations site.
First Quarter Highlights and Strategic Announcements
In the first quarter of 2013, LinkedIn:
Grew its member base to 218 million, and witnessed strong member growth through the quarter due to optimization initiatives. As a result, new sign ups increased to greater than two per second.
Introduced a new version of search, which streamlines the experience and unifies results across multiple types of content including people, companies, and jobs. Early use indicates members have responded with increased search utilization.
Improved its content offering for professionals by adding a number of Influencers including Mayor Bloomberg, Meg Whitman, Jack Welch, Jeff Immelt, and Martha Stewart. LinkedIn continues to take steps to become the definitive professional publishing platform.
Additionally, LinkedIn launched several new products since the quarter end including a new version of its smartphone applications; Contacts, a new contact management system on the web and iOS mobile devices; as well products that enhance LinkedIns content ecosystem including the ability for member to include rich media in LinkedIn profiles, and content channels to follow 20 different professional topics on LinkedIn. In April, the company also launched a redesigned version of Recruiter, its flagship Talent Solutions product platform.
Business Outlook
LinkedIn is providing guidance for the second quarter and full year of 2013:
Q2 2013 Guidance: Revenue is expected to range between $342 million and $347 million. Adjusted EBITDA is expected to range between $77 million and $79 million. The company expects depreciation and amortization to be between $30 million and $32 million, and stock-based compensation to be between $49 million and $51 million.
Full Year 2013 Guidance: Revenue i
Most recent headlines
06/10/2025
France T l visions, France's leading broadcaster, has received the 2025 EBU ...
04/09/2025
Monumental Sports & Entertainment (MSE), in collaboration with Dalet, has been a...
30/08/2025
WASHINGTON The Federal Communications Commission has adopted its FY 2025 Regulatory Fees Order that establishes the regulatory fee rates for the broadcast stati...
29/08/2025
Australian Red Cross and SBS launch training to help workplaces in the fight aga...
29/08/2025
The National Film and Video Foundation (NFVF), an agency of the Department of Sp...
29/08/2025
L3Harris Technologies has concentrated decades of expertise across the entire enterprise to develop affordable and reliable best-of-breed solutions to rapidly c...
29/08/2025
BURBANK, Calif. The CW Network and the Pac-12 Conference have announced a new media rights deal that will extend their broadcast partnership beginning with the ...
29/08/2025
NEW YORK Gracenote has released a new analysis of its global video dataset showing that the number of FAST channels grew nearly 14% from Q1 2025 and 76% since 2...
29/08/2025
SAN JOSE, Calif. Harmonic has announced a series of improvements to its live sports streaming solution that the company said will improve fan engagement, protec...
29/08/2025
NEW YORK and LOS ANGELES Fox Corp. and YouTube TV last night announced a renewal of the full portfolio of Fox networks, including Fox News Channel, Fox Business...
29/08/2025
Budapest, Hungary, August 2025 - The integration of Microsoft Teams Rooms (MTR) with Lightware's Taurus universal matrix switchers delivers a new level of f...
29/08/2025
Frequency, the engine behind many of the world's best-known streaming television channels, today announced it will launch Studio Live, a next-generation uni...
29/08/2025
In an era when AI and cyber resilience are essential, Scality will mark the 10th anniversary of Scality Day on October 16, 2025 in Paris. This flagship global e...
29/08/2025
Disguise's In-House Creative and Technical Teams Pre-Visualised, Programmed and Delivered Content for the Experience, All Powered by EX 3+
Technology solu...
29/08/2025
Disguise will be demonstrating the latest workflows for TV, film and live events on a number of partner booths at the show
Disguise, the industry-leading tech...
29/08/2025
STOCKHOLM, Sweden Accedo will showcase Accedo Compose, its AI agent-powered modular orchestration layer that assists streaming providers in transitioning client...
29/08/2025
LOS ANGELES Cineverse has announced that it is working with Xperi to bring four of its streaming channels to automobiles for the first time as part of the DTS A...
29/08/2025
DALLAS & ATLANTA Gray Media has announced an agreement with the sports streaming service Victory+ to simulcast 17 Dallas Stars NHL games in 15 television market...
29/08/2025
NEW YORK AND CULVER CITY Comcast NBCUniversal and Amazon have announced new and extended distribution agreements that will expand the content available on their...
29/08/2025
FOOTHILL RANCH, Calif. RED Digital Cinema will feature its Cine-Broadcast Module supporting live broadcast workflows during IBC2025, Sept. 12-15, at the RAI Ams...
29/08/2025
29 Aug 2025
Kyivstar Rings Opening Bell at Nasdaq Marking Landmark Listing and ...
29/08/2025
More than half of all NFL games live on Sky for the first timeFriday 29 August 2025
Sky Sports has announced a new three-year deal with the NFL, extending its ...
29/08/2025
Back to All News
RIV4LRIES: The Trailer of the New Series With Samuele Carrino ...
29/08/2025
Get ready for an inspiring and emotional insight into the world of competitive Irish dancing with My Story: Tomi Champion of the World airing on RT 2 this monda...
29/08/2025
RT has today announced that David McCullagh is to be the new presenter of RT Radio 1's flagship Today programme, which airs every weekday at 10am, replaci...
28/08/2025
By Kristin Feeley, Director, Documentary Film & Artist Programs
If you want to tell untold stories, if you want to give voice to the voiceless, you've got ...
28/08/2025
Directed by Steven Bognar and Julia Reichert, Sundance Institute-supported Amer...
28/08/2025
Corridos have been a cornerstone of M sica Mexicana for generations, telling stories rooted in everyday life. Now, a new chapter is taking shape: motivational c...
28/08/2025
Los corridos han sido un pilar de la M sica Mexicana durante generaciones, contando historias enraizadas en la vida cotidiana. Ahora, un nuevo cap tulo est tom...
28/08/2025
Earlier this month, we promised our Verano Forever party would bring the heat, a...
28/08/2025
L3Harris will provide the Polish F-16V fleet with the Viper Shield electronic warfare system as part of an upgrade program....
28/08/2025
Bilbao, August 26, 2025 - AgileTV, an international television and video technol...
28/08/2025
Ken Wilkinson is an Emmy Awards nominated New York audio engineer who specialises in production sound mixing for film, commercial, episodic and documentary work...
28/08/2025
NEW YORK FuboTV today announced that it will launch Fubo Sports, a skinny bundle that focuses on sports with a subscription price of $56 monthly....
28/08/2025
NEVADA City, Calif. At IBC2025, Sept. 12-15 at the RAI Amsterdam, Telestream will debut its new Global Ingest strategy, introducing a next-generation ingest arc...
28/08/2025
Dr. Rhoda Bernard Releases Groundbreaking Debut Book on Accessible Arts Educatio...
28/08/2025
TAG Video Systems, the leader in software-based IP end-to-end workflow monitoring, deep probing, and real-time visualization, has named Oliver Gappa as Sales Di...
28/08/2025
AI-based voice enhancement will be among a series of innovations making their IBC 2025 debut on the DHD stand B46 in Hall 8 at the RAI Amsterdam Convention Cent...
28/08/2025
Telef nica Servicios Audiovisuales (TSA), the leading system integrator and service provider in the media sector in Spain, with the support of Appear, the globa...
28/08/2025
To fully immerse sailing fans in the world's biggest offshore yacht race, production company, Optical Media turned to LiveU's On-site Production solutio...
28/08/2025
Working with Calrec on its most recent overhaul, radio and television broadcaster, WNED has migrated to a fully IP infrastructure with multiple Type R consoles,...
28/08/2025
Cleeng, the Subscriber Retention Management (SRM ) inventor, has unveiled Cleeng Pro, the first-ever direct-to-consumer (D2C) subscription management platform t...
28/08/2025
Zixi, the industry leader in live broadcast-quality video over IP, today announced that French media distribution platform OKAST has selected Zixi to enable rel...
28/08/2025
Solution offers a streamlined, speaker-free architecture to optimize integration with premium external loudspeakers and advanced loudness metering
Nixer Pro Au...
28/08/2025
Cinegy, the premier provider of software-defined television technology, has announced a strategic partnership with Vision One Touch Film Production Services L.L...
28/08/2025
Telestream, a global leader in media workflow technologies, will debut its new Global Ingest strategy at IBC2025, introducing a next-generation ingest architect...
28/08/2025
Tier 1 operator selects Broadpeak to power high-performance, unified CDN solution across Norway, Sweden and Finland
Broadpeak, a leader in streaming and moneti...
28/08/2025
Leading video software provider, Synamedia, today announced that 24 Frames Digital, one of India's leading live event streaming service providers, has chose...
28/08/2025
Meet VisualOn at IBC2025: See What's Next in AI-Powered Video Streaming Join VisualOn at IBC2025 and discover how our AI-driven Optimizer and advanced media...
LinkedIn reports financial results for the first quarter ended March 31, 2013.
