LinkedIn’s First Earnings Announcement, Q2 2011
August 4, 2011
We’d like to share with you the announcement related to our first earnings (Q2 2011). In addition, we’ll also be live sharing the earnings call both from LinkedIn’s Company Page and our @linkedin account, starting 2PM Pacific Time later today. - Ed.
Today, we reported our financial results for the second quarter ended June 30, 2011. In the second quarter, we saw record levels of members, unique visitors, and page views, while top line growth accelerated. Going forward, we plan to continue to invest in our team, technology, and products in order to increase the value we deliver to members and realize the full potential of the LinkedIn platform.
Here are the key highlights:
- Members grew to 115.8 million, an increase of 61% from the second quarter of 2010
- Unique visitors of 81.8 million per month, an increase of 83% from the second quarter of 2010
- Page views of 7.1 billion, an increase of 80% from the second quarter of 2010
- Revenue for the second quarter was $121.0 million, an increase of 120% compared to $54.9 million for the second quarter of 2010
- Net income for the second quarter was $4.5 million, compared to $4.3 million for the second quarter of 2010; Non-GAAP net income for the second quarter was $10.8 million, compared to $6.4 million for the second quarter of 2010. Non-GAAP measures exclude tax-effected stock-based compensation expense and tax-effected amortization of acquired intangible assets
- Adjusted EBITDA for the second quarter was $26.3 million, or 22% of revenue, compared to $11.5 million for the second quarter of 2010, or 21% of revenue
- GAAP EPS for the second quarter was $0.04; Non-GAAP EPS for the second quarter was $0.10
Jeff Weiner and Steve Sordello will host the webcast, which can be viewed on the investor relations section of the LinkedIn website.
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 expected financial metrics such as revenue, adjusted EBITDA, and EPS, as well as non-financial metrics, such as member growth, page views and unique visitors to the company’s site, for the third quarter of 2011 and the full fiscal year and beyond. The achievement or success of the matters covered by such forward-looking statements involves risks, uncertainties and assumptions.
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.