LinkedIn, the world’s largest professional network on the Internet recently reported its financial results for the fourth quarter and fiscal year ended December 31, 2011. It also announced that it has now reached 150 million members in its network, a 20 million increase over November 2011.
By posting revenues of $167.7 million, the company beat the analysts’ consensus of $160 million for the 4th Quarter. The adjusted profit was $0.12 cents per share, which beat analysts’ projections of 7 cents a share.
The 4th Quarter revenue figure was a 105% increase over the same period in 2010. Revenues for full-year 2011 was $522.2 million, a 115% increase over 2010′s $243.1 million. Hiring Solutions continues to be the company’s largest source of revenues, providing $84.9 million for the quarter. Marketing Solutions, meanwhile, brought in revenues of $49.5 million, while revenues from Premium Subscriptions totaled $33.3 million.
“Q4 once again exceeded our expectations for member engagement and business growth. It was a fitting end to a memorable year in which we reinforced our position as the pre-eminent professional network on the web,” said Jeff Weiner, CEO of LinkedIn. “We believe continued focus on our members and technology infrastructure positions us well for accelerated product innovation in 2012.”