LinkedIn's revenue for the fourth quarter was $167.7 million, an 105% increase compared to $81.7 million for the same period the year before. That beat The Street estimate of $159.7 million.
Net income rose 30% to 6 cents per share or $6.9 million, up from $5.3 million a year ago, according to FactSet. Non-GAAP net income for the quarter was $13.3million or 12 cents per share.
LinkedIn had warned the fourth quarter could result in another loss due to costs of hiring more workers for new projects to grow its subscriber base. LinkedIn, however, usually gives conservative guidance and beats estimates, which it has done for the past few quarters.
LinkedIn Corp. (NYSE: LNKD) Gives Strong GuidanceLinkedIn scored half of total fourth-quarter revenue from hiring solutions, the services used to match up jobs and job seekers. About 30% of the total quarterly revenue came from its marketing business and ad sales, and the remaining 20% from premium subscriptions.
Those business segments' growth rates show their demand in the career networking universe: hiring solutions sales climbed 136%, marketing sales were up 77%, and premium subscriptions grew 87%.
LinkedIn also made strides in its international business, branching into growing markets that will have a bigger need for professional networking. It finalized three offices, one each in Japan, Brazil, and India.
For the current quarter, the company forecasts revenue in a range of $170 million to $175 million, ahead of the average $171 million estimate.