World’s largest professional networking website, Linkedin had released it’s first quarter financial results for the year 2013. The site claims to have more than 225 million members. Jeff Weiner, CEO of Linkedin claims Q1 as a strong quarter for Linkedin with member engagement and financial results setting record levels.
Linkedin earned total revenues of USD 324.7 million in the quarter with 72% increase from the last years’ first quarter.
Linkedin’s Talent solutions were the lead performer in revenues in the quarter with 57% of the revenues coming from it. Also, increasing 80% from Q1 FY12, with USD 184.3 million revenues for this Q1 FY13.
Revenue from Marketing Solutions products saw an increase of 56% and went up to $74.8 million and it represented 23% of total revenue going down from 25% share in the first quarter of 2012.
Revenue from Premium Subscriptions products totaled $65.6 million, witnessing an increase of 73%. It represented 20% of total revenue for the Q1 2013.
Linkedin makes almost 38% of its revenues from the international markets other than US ranging to USD 123.3 in numbers. Whereas, it earns only 43% of its revenues through online direct sales leveraging a strong offline sales team.
LinkedIn also launched several new products including the new version of its smartphone applications; Contacts, which is a contact management system for web and iOS mobile devices. It had also launched a redesigned version of its flagship Talent Solutions product platform i.e. Recruiter. Last month it had acquired newsreader startup Pulse in $90 million in a stock and cash deal.