LinkedIn has 467 million members, up 18% from a year earlier, the company said.
Jeff Weiner, chief executive of LinkedIn said: "Our combination with Microsoft creates the opportunity for us to dramatically increase the impact and scale with which we deliver value to our members and customers". Marketing solutions revenues dropped $6 million to $175 million this quarter, with sponsored content accounting for almost two-thirds of total marketing revenue. If it had waited until after the release of its solid third-quarter growth numbers following Thursday's closing bell (bolstering solid second quarter growth numbers), LNKD shares may have been priced too richly.
On the other hand, after agreeing to be acquired by Microsoft (NASDAQ: MSFT) for a cool $26.2 billion, LinkedIn's future seems awfully secure. LinkedIn says its member page views were up 27 percent in Q3, and that more than 60 percent of all traffic to LinkedIn is now on mobile. Net income of $9.1 million was the first quarterly profit the company has turned in over a year, and marks a wide turnaround from the $46.9 million loss it booked for the third quarter of 2015. That compares to Marketing Solutions' $181 million and Premium Subscriptions sales of $155 million.
Though not all pundits were impressed, LinkedIn (NYSE: LNKD) reported strong revenue and membership gains in what was likely its last quarter as an independent company. Analysts expected LinkedIn to report third-quarter revenue of $959.35 million.
The other two categories which constitute towards the overall revenue includes marketing solutions and premium subscriptions. Those ads are among the company's fastest-growing businesses. This was up from $0.78 billion a year ago.
Total revenue grew 23% year-over-year to $960m.
However, the company has neither updated its outlook for 2016 nor did it hold a conference call, all because of its pending merger with Microsoft Corp. Jefferies Group reissued a "hold" rating and issued a $196.00 price target on shares of LinkedIn Corp.in a report on Monday, July 18th. Credit Agricole SA reiterated a "buy" rating on shares of LinkedIn Corp.in a research note on Friday, September 23rd.
TheStreet Ratings rated this stock as a "sell" with a ratings score of D+ on LinkedIn. The company's 50-day moving average price is $16.62 and its 200 day moving average price is $17.94.
Covering analysts have a consensus price target on the stock of Capital One Financial Corporation (NYSE:COF) of $78.406.
LinkedIn, a leader in the emerging online professional networking segment, enjoys increasing popularity and steady growth worldwide. Talent Solutions earnings were split between Hiring which brought in $556 million and Learning and Development with brought in $67 million.