LinkedIn Posts 2nd Quarter Profits

August 5th, 2011 at 10:22 am
 


Professional social network site LinkedIn has become a public company when it conducted an IPO several months ago. So how did it fare out in this recent quarter? Well, it seems that going public may have given LinkedIn some luck of some sort as it has posted profits according to its financial reports for the 2nd quarter. It has even beat expectations from Wall Street along the way.

LinkedIn recently reported that it was able to make $4.5 million in profits for the second quarter on revenues of $121. It was its first reported profit since it became a public company last May. While the company was upbeat in its becoming a publicly listed company, Wall Street had its own misgivings. It expected that LinkedIn will be reporting a 2nd quarter loss on $104.5 million revenues. But all that was negated by the recent 2nd quarter report.

LinkedIn is remaining upbeat as it expect even better numbers next quarter. For its 3rd quarter forecast, the company is expecting revenues ranging from $121 to $125 million. The company is aiming to hit a year end revenue mark ranging around $475 million to $485 million. Rising statistics may help them achieve this goal.

One of LinkedIn’s recent improvements on its professional network is introducing a LinkedIn Share button that are now being used by around 100,000 publishers in order to drive up some traffic. It has also launched a mobile version of LinkedIn for Android phones. The company is also expanding internationally, opening offices in Asia and Europe. Because of this and other improvements, LinkedIn has seen user numbers going up by 61 percent to 115.8 million as compared to numbers from the 2nd quarter of last year.

 

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