It’s been a busy quarter for LinkedIn, as the company rolled out changes to its professional social platform for both recruiters and users on both desktop and mobile. And on Thursday, LinkedIn posted its earnings for Q1 of 2014, announcing $473.2 million in revenue — an increase of 46 percent from 2013. However, the company experienced a net loss of $13.4 million and has yet to gain traction with monthly users.
LinkedIn’s combined revenue exceeded Wall Street’s target of $466.57 million. The company also increased its revenue streams across the board. Talent Solutions, its biggest moneymaker at 58 percent of total revenue, grew 50 percent from 2013 to pull in $275.9 million. Meanwhile, revenue from Marketing Solutions increased 36 percent to $101.8 million, and revenue from Premium Subscriptions increased 46 percent to $95.5 million. Despite the strong revenue, the company’s net income fell, producing a GAAP loss of $0.11 EPS.
LinkedIn’s user base remains a mixed bag. While the company announced in April that it had surpassed 300 million members, ComScore reports that the platform sees just 142 million monthly active users. This is a slight rebound from where it was, but continues a trend that shows limited growth in frequent visitors.
The company focused on gaining traction with regular users, primarily by breaking into the Chinese market and opening its publishing platform to all users.