LinkedIn reports rise in Q4 profits
February 8 , 2013
Business-focused social networking website LinkedIn reported fourth quarter profits of $40.2 million, twice the amount expected by industry analysts.
The news sent shares up 10 percent in after hours' trading on Thursday.
The rise comes on the back of increasing numbers of job seekers and recruiters signing up. The network now boasts more than 200 million members.
Turnover was also higher than expected, increasing 81 percent to $304 million compared to the same period last year.
The site's international markets also performed well with sales over the past year nearly doubling to $114.6 million.
The figures indicate that LinkedIn, which listed on the stock market in May 2011, has beaten earnings expectations for seven consecutive quarters.