LinkedIn Hits 175 Million Registered Users
The last time LinkedIn made the news it was placating its users who had suffered hacking to their accounts. This time round however, its good news for the world’s largest professional social network.
The company announced its earnings figures for Q2 and revealed that the site has swelled to a massive 175 million members. In little over 5 months LinkedIn has added 25 million members, having reported 150 million in February of this year.
All this activity on the platform has translated into sound financial numbers for the company too. The stock price is up 48.5%, and earnings figures have bettered analyst expectations. The word on the ‘Street’ was that LinkedIn was supposed to post earnings of $0.01 per share on earnings of $216 million. LinkedIn instead posted $0.03 per share on earnings of $228 million. In the game of tech stocks, $12 million is a lot of money and can affect a share price in quite a dramatic way. The fact that the company’s share price is up 48.5% since the start of the year is a testament to how well the platform is doing overall.
LinkedIn continues to attract very high-value users and with businesses now starting to use its ad platform to generate leads and sales, things will only get better as time wears on.