LinkedIn reported second-quarter earnings on Thursday after the market close that easily beat expectations.
The social network for professionals reported $534 million in revenue and a profit of $0.51 per share. Analysts had forecast around $511 million in revenue to translate into $0.39 per share of profit.
[seealso slug=http://sale-online.click/2014/01/18/linkedin-etiquette/%5D%3C/p%3E%3Cp%3EThe news sent LinkedIn shares sharply higher in after-hours trading, up 9% just after the report was released. LinkedIn shares have fallen almost 17% in 2014.
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LinkedIn's business model is different from other social media companies like Facebook and Twitter, which rely almost entirely on advertising for revenue. LinkedIn brought in 49% of its second-quarter 2014 revenue through "talent solutions" -- helping recruiters and companies find new employees. Another 20% came in the form of premium subscriptions.
“LinkedIn delivered strong financial results in the second quarter while maintaining investment in our member and customer offerings,” said LinkedIn CEO Jeff Winer in the earnings release. “We made significant progress against several key strategic priorities including increasing the scale of job opportunities on LinkedIn; expanding our professional publishing platform; and continuing the strategic shift towards content marketing through Sponsored Updates.”
LinkedIn follows on the heels of upbeat second-quarter earnings from Facebook and Twitter that also sent shares higher.