Today LinkedIn shared its Q3 financials in its second-ever earnings statement as a public company. Its user base has increased by over 60% this year, and unique visitors grew substantially as well. Revenue has more than doubled. For the first time, hiring solutions comprised more than half of LinkedIn’s quarterly revenue. That became the company’s biggest source of revenue in Q1 2010.
LinkedIn appears to have found a unique position as a place for jobs and and employees to find each other and is clearly pushing to cement that role. It’s building new products, like Apply Through LinkedIn job applications, and recently launched Classmates, a new, data-driven tool targeted at students and recent graduates, which its biggest growing demographic.
The earnings overview breaks down between premium subscriptions, marketing solutions and hiring solutions.
The number of members paying for premium subscriptions doubled in the last year, growing at a faster rate than other subscriptions. These accounted for 20% of revenue. Marketing solutions comprised 32% of revenue. Hiring solutions are now LinkedIn’s most profitable product, making 51% of the company’s revenue.
The company reports strong growth in the U.S. and internationally. It recently translated the site to Russian, Romanian and Turkish; it will be adding Japanese over the next few months.
This year LinkedIn also added more offerings for job recruiters with Talent Pipeline which helps centralize the way recruiters find, track and stay connected with potential hires and promotions.
The company bought real-time, search startup IndexTank and social contact management startup Connected.
