We’d like to share with you the announcement related to our 2012 second quarter earnings. We’ll also be providing live updates from the earnings call at @linkedin, starting 2PM Pacific Time later today. – Ed.
Today, we reported our financial results for the second quarter ending June 30, 2012. We had a strong second quarter with all of our key operating and financial metrics showing solid performance.
Here are the highlights:
- Revenue for the second quarter was $228.2 million, an increase of 89% compared to $121.0 million in the second quarter of 2011.
- Net income for the second quarter was $2.8 million, compared to net income of $4.5 million for the second quarter of 2011. Non-GAAP net income for the second quarter was $18.1 million, compared to $10.8 million for the second quarter of 2011. Non-GAAP measures exclude tax-affected stock-based compensation expense and tax-affected amortization of acquired intangible assets.
- Adjusted EBITDA for the second quarter was $50.4 million, or 22% of revenue, compared to $26.3 million for the second quarter of 2011, or 22% of revenue.
- GAAP EPS for the second quarter was $0.03; Non-GAAP EPS for the second quarter was $0.16.
Our ongoing investment in product innovation drove healthy engagement as measured by unique visiting members and member page views, and our three revenue streams all experienced significant growth.
- Hiring Solutions: Revenue from Hiring Solutions products totaled $121.6 million, an increase of 107% compared to the second quarter of 2011. Hiring Solutions revenue represented 53% of total revenue in the second quarter of 2012, compared to 48% in the second quarter of 2011.
- Marketing Solutions: Revenue from Marketing Solutions products totaled $63.1 million, an increase of 64% compared to the second quarter of 2011. Marketing Solutions revenue represented 28% of total revenue in the second quarter of 2012, compared to 32% in the second quarter of 2011.
- Premium Subscriptions: Revenue from Premium Subscriptions products totaled $43.5 million, an increase of 82% compared to the second quarter of 2011. Premium Subscriptions represented 19% of total revenue in the second quarter of 2012, compared to 20% of revenue in the second quarter of 2011.
I highly encourage you to review associated materials, including our GAAP and non-GAAP reconciliation. [1]
We’re also hosting a webcast / conference call to discuss our financial results for the second quarter of 2012 and business outlook today at 2:00PM Pacific Time.
I will co-host the webcast with CEO Jeff Weiner, which can be viewed on the investor relations section of the LinkedIn website as well.
See slides below.
[slideshare id=13843243&doc=earningsdeck2012q2final-120802151917-phpapp01]
[1] Safe Harbor Statement
This post contains non-GAAP financials measures relating to the company’s performance. You can find the reconciliation of those measures to the nearest comparable GAAP measures and additional details regarding the use of non-GAAP measures at http://investors.linkedin.com/.
This post also contains forward-looking statements about our products, including our planned investments in key strategic areas, certain non-financial metrics, such as member growth and engagement, and our expected financial metrics such as revenue, adjusted EBITDA, depreciation and amortization and stock-based compensation for the second quarter of 2012 and the full fiscal year 2012. The achievement of the matters covered by such forward-looking statements involves risks, uncertainties and assumptions.
If any of these risks or uncertainties materialize or if any of the assumptions prove incorrect, the company’s results could differ materially from the results expressed or implied by the forward-looking statements the company makes.
If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, the company’s results could differ materially from the results expressed or implied by the forward-looking statements the company makes. Please also see our full disclaimer regarding this information as well.