It seems that Linkedin’s latest goal is to match up every user around the world with their perfect job, as the company’s latest earnings report and acquisitions show a focus on bringing users higher quality, more relevant professional listings — both in the U.S. and internationally.
“Ultimately, our members will not need to find the right jobs,” CEO Jeff Weiner explained. “The right jobs will find them.”
Linkedin announced stronger-than-expected Q4 earnings Thursday evening, which included quarterly revenue of $447.2 million – an increase of 47 percent compared to $303.6 million in Q4 of 2012.
Weiner expressed his satisfaction in the report:
Solid fourth quarter performance capped another successful year where improvements in scale and relevance across our platform led to strong member engagement. Moving forward, we are investing significantly in a focused number of long-term initiatives that will allow us to realize our vision to create economic opportunity for every member of the global workforce.
Revenue was stronger than Wall Street’s projection of $437.84 million, as was earnings per share — Linkedin beat the $0.38 expectation, reporting $0.39 earnings per share. The company also posted net income of $48.2 million, compared to $40.2 million in Q4 of 2012. However, it seems that Linkedin’s conservative revenue estimate for 2014, targeted between $455 million and $460 million, was not what investors wanted to hear, as the stock dipped in after-hours trading.
Weiner said on the call Linkedin’s user base is also growing at record levels, adding more than 70 million members in 2013. He added that 70 percent of those new members came outside of the U.S., and 41 percent of the platform’s traffic came from mobile. Linkedin has declined to disclose its monthly active user statistics, but ComScore estimates that the company received roughly 326 million unique visits across both Linkedin and related properties in the fourth quarter — an increase of 20 percent year-over-year. To accelerate user growth, Weiner said that Linkedin plans to tap into the growing market in China.
“We’ve been saying for quite some time now, with the growth that we’ve seen in our English language offering in Linkedin China, we wanted to be thoughtful about further localization,” Weiner said.
In addition to earnings reports, Linkedin also announced that it will acquire professional data insights startup Bright for $120 million. Consumers will be able to use the service until the end of the month — when, according to the acquisition announcement — the website will close and “several members of Bright’s team, including those from Engineering and Product, will join Linkedin.” There, it is likely that some form of Bright’s system will be implemented within Linkedin to help recruiters and users find that “right job.”