Asa Mathat / AllThingsD.com LinkedIn CEO Jeff Weiner and Chairman Reid Hoffman
LinkedIn posted its third-quarter earnings results on Tuesday, and it’s yet another big quarterly beat.
The company reported 39 cents in earnings per share on revenue of $393 million. That’s against analysts’ estimates of 32 cents per share on revenue of $385.41 million.
It was a good quarter for growth as well, as the company added another 21 million monthly active users to its base, bringing the total to 259 million overall. That’s 38 percent year-on-year overall growth for the company.
“Increased member growth and engagement helped drive strong financial results in the third quarter,” said LinkedIn CEO Jeff Weiner in a statement. “We continue to deliver value to professionals through investment in core products and strategic initiatives such as mobile, students, and the professional publishing platform.”
The company’s talent solutions product continues to be the main revenue driver, accounting for 57 percent of overall revenue at $224.7 million. Marketing solutions and Premium subscriptions followed at $88.5 million and $79.8 million, respectively.
The slightly downbeat point was LinkedIn’s lowered guidance for the fourth quarter coming in at about $420 million, short of the approximately $440 million analysts had expected.
Though, if you’ll recall from earlier this year, LinkedIn has consistently provided lowered guidance for coming quarters, a move some analysts think has been intended to manage future expectations – especially if the company doesn’t deliver consistently stellar results as it has in the past.
Shares dipped slightly on the news, trading down two percent at around $242.
On a conference call, Weiner highlighted the company’s mobile efforts over the past quarter, paying particular attention to the recent LinkedIn mobile product launch; along with a number of redesigns, LinkedIn introduced Intro, a way for the company to stick its data inside of the iOS email app.
Sponsored updates – the company’s version of a “native” mobile ad unit – drive two-thirds of mobile revenue. It’s certainly a significant amount, and one the company expects to grow in the future.