There are times when it seems like the social networking world is made up of Facebook and Twitter (News - Alert) and a smattering of also-rans. If a new earnings report can be believed, it appears that one of those also-rans is making a run at becoming a bigwig in the market. LinkedIn (News - Alert) released its earnings from the fourth quarter of 2012 and the report appears to be almost nothing but good news. To be fair the social networking site geared towards helping professionals make actual business networking connections, and LinkedIn has been a site that market analysts have liked for a while.
That doesn’t mean that many people saw as successful quarter as LinkedIn had, coming. When all was said and done, LinkedIn ended up beating its quarterly projections by 16 cents per share (projected at 19 cents per share and coming in at 35 cents EPS). Those numbers meant that revenue for the quarter was $303.6 million, rocketing past the company’s expectations of somewhere in the neighborhood of $278 million. That also means that the site had revenue growth of 81 percent when looking at the year over year numbers.
LinkedIn has worked awfully hard over the last year to make itself one of those companies that is less an afterthought and more a site that people will turn to as a first choice. They have been tweaking and improving the site pretty steadily with additions like the redesigned user profile look and better mobile applications.
With the ridiculously positive news coming from the fourth quarter of 2012, LinkedIn was also able to project much better numbers for the first quarter of 2013. LinkedIn now says it is looking at numbers between $305 million and $310 million. That is surpassing what analysts had projected, which was around $301 million for this first quarter, yet another sign of just how great their previous numbers are looking.
Edited by Ashley Caputo