LinkedIn revenue doubles in 2011

Jennifer Scott News
10 Feb, 2012

The business social networking site brings in $522.2 million for the year, up 115 per cent from 2010.

LinkedIn today revealed results for 2011, showing revenues had risen to $522.2 million for the year.

The figure was more than double 2010’s $243.1 million, with the business social networking sites predicting revenues of between $840 and $860 million for 2012.

Revenues for the fourth quarter of last year had also more than doubled, rocketing 105 per cent year-on-year to $167.7 million.

Net income had a more modest rise, up from $5.3 million to $6.9 million in the last three months, whilst premium subscriptions went up by 87 per cent, bringing in $33.3 million to the firm.

"Q4 once again exceeded our expectations for member engagement and business growth,"said Jeff Weiner, chief executive (CEO) of LinkedIn, "It was a fitting end to a memorable year in which we reinforced our position as the pre-eminent professional network on the web," he added.

LinkedIn now claims to have over 150 million users, with members from all Fortune 500 companies signed up. 

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