LinkedIn Reaches 174 Million Members, Revenue Up 89%

LinkedIn Reaches 174 Million MembersLinkedIn now has 174 million members, up from 116 million one year ago. Unique visitors in Q2 2012 totaled 106 million, according to comScore, and pageviews dropped slightly from 9.4 billion in Q1 down to 9.3 m billion in Q2.

In the second quarter of 2012, revenue was up 89% over the same period a year ago.  LinkedIn’s revenue sources include display ads, subscriptions for premium services, and jobs board. Unlike Facebook, LinkedIn does not rely largely on advertising as a revenue source.

A breakdown of earnings:

  • revenue from Hiring Solutions products was up 107% compared to Q2 2011, representing 53% of total revenue in the quarter (vs. 48% one year ago)
  • revenue from Marketing Solutions products rose 64% compared to the second quarter of 2011, representing 28% of total revenue in the quarter ( down from 32% in Q2 2011).
  • revenue from Premium Subscriptions rose 82% compared to one year ago, representing 19% of total revenue in the second quarter of 2012

The majority of LinkedIn’s revenue (65%, or just more than $147 million) came from the United States. Revenue from international markets totaled $81 million, or 35% of total sales during the second quarter of 2012 (CNET).

Mobile is also starting to play an important role.  LinkedIn CEO Jeff Weiner stated that 15% of new members originated on mobile, up from 10%.  Over one-quarter (27%) of visits now come from mobile.

While CNET notes that comparison between LinkedIn and Facebook is “inexact,” it is notable that LinkedIn has found success in generating revenue and is now seeing the value of shares rise.

What do you think? And are you using LinkedIn via PC or mobile?