Suki raises $70M to build out its AI voice assistant
The company will use the funding to broaden the scope of its AI, including new administrative tasks
Read more...Shares of LinkedIn are up 10% in after-hours trading Thursday, after the company posted better-than-expected second-quarter earnings. The stock had dropped 3.55%, or $6.05, to $180.64, in regular trading.
In the earnings report, LinkedIn posted non-GAAP earnings per share of 51 cents on revenue of $534 million, up 47% from $364 million in the year-ago period. Analysts had been expecting EPS of 39 cents a share on revenue of $511 million.
Net loss for the quarter was $1 million, compared to net income of $3.7 million for the second quarter of 2013. Non-GAAP net income for the second quarter was $63 million, compared to $44 million a year ago.
Adjusted EBITDA for the second quarter was $145 million, or 27% of revenue, compared to $89 million for the second quarter of 2012, when it was 24% of revenue.
These numbers also beat LinkedIn's own estimates which had been to see revenue in the range of $500 million and $505million for the second quarter, while adjusted EBITDA was expected to range $118 million and $120 million.
"LinkedIn delivered strong financial results in the second quarter while maintaining investment in our member and customer offerings," Jeff Weiner, CEO of LinkedIn, said in a statement. "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."
Talent Solutions took in $322 million, up 49% year to year. This sector represented 60% of the company's quarterly revenue.
Revenue from Marketing Solutions was $106 million during the quarter, an increase of 44% year to year. It accounted for 20% of total revenue. Premium Subscriptions brought in $105 million, an increase of 44% and 20% of total revenue.
A total of $318 million, or 60% of LinkedIn’s revenue, came from the U.S., while $216 million, or 40%, came from international markets
The company is expecting Q3 2014 to see revenue between $543 and $547 million, with adjusted EBITDA expected to range between $134 million and $136 million.
For the full year 2014, revenue is expected to range between $2.14 billion and $2.15 billion. Adjusted EBITDA is expected to range between $545 million and $550 million.
(Image source: clusterballoon.org)
The company will use the funding to broaden the scope of its AI, including new administrative tasks
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