"As Wall Street obsessed over Microsoft's Azure growth rates and OpenAI accounting, LinkedIn quietly crossed $5 billion in quarterly revenue for the first time in the Redmond company's December quarter, up 11%. That puts the business social network on an annual run rate of more than $20 billion. LinkedIn is known for its recruiting tools and job postings, but given overall weakness in the job market, the latest growth is being fueled by LinkedIn Marketing Solutions, its advertising business."
"On Microsoft's earnings call with analysts, CEO Satya Nadella noted that paid video ads on LinkedIn grew 30% year-over-year. That came amid the platform's push into short-form video, a format pioneered by TikTok that LinkedIn has adapted for professional content, such as career advice, industry hot takes, and company announcements delivered in vertical clips. He noted that LinkedIn had double-digit member growth for the quarter. The platform had nearly 1.3 billion members as of October, according to Microsoft's first quarter earnings call."
LinkedIn crossed $5 billion in quarterly revenue for the first time in Microsoft's December quarter, up 11%. The performance sets an annual run rate above $20 billion. Growth is being driven by LinkedIn Marketing Solutions as recruiting revenue faces job market weakness. Paid video ads grew 30% year-over-year amid a push into short-form video adapted from TikTok for professional content. LinkedIn reported double-digit member growth, with nearly 1.3 billion members as of October. Premium subscriptions surpassed $2 billion in annual revenue with subscriber growth up almost 50% over two years. A contested €310 million fine from Ireland's Data Protection Commission may present regulatory risk.
Read at GeekWire
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