LinkedIn reveals New Zealand membership number
PLUS: A jump in profit; advertisements to be added to mobile app.
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LinkedIn now has more than 500,000 members in New Zealand, the company said today.
In April 2011, the company said it had more than 350,000 members; in June 2010, 250,000.
LinkedIn also said it now had more than 150 million members worldwide, double the 75 million it reported in April last year.
The US based professional social-networking service said this morning its fourth-quarter net income rose to $US6.9 million from $US5.3 million a year ago.
Revenue hit $US167.7 million from $US81.7 million in the year-ago quarter. Analysts had expected earnings of $US160 million.
The company also announced plans to introduce ads to its mobile app. No details were offered but on a conference call to media and analysts, LinkedIn CEO Jeff Weiner the company has been putting the infrastructure in place, and now it’s ready to “start to introduce advertising in our mobile solutions.”
Its shares [NYSE:LNKD] rose 8.85% in after-hours trading to $US83.05 - giving LinkedIn a market cap of just over $US8 billion. However, the company is still of the $US9 billion high it hit on the day off its IPO (May 19 last year).
LinkedIn said its recruiting services revenue doubled during the quarter to $US84.9 million. Revenue from users paying for premium accounts - more and more common among LinkedIn's NZ members - rose 87% to $US33.3 million. Advertising revenue rose 77% to $US49.5 million.
For the current quarter, LinkedIn said it expects revenue of $US170 million to $US175 million.
LinkedIn opened an Australia-New Zealand office in Sydney in January 2010, under managing director Cliff Rosenberg.
NBR staff
Fri, 10 Feb 2012
Fri, 10 Feb 2012
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LinkedIn reveals New Zealand membership number
18798