LinkedIn recently passed 300 million users, and today the social network announced its earnings for the first quarter of 2014.
Revenue saw a 46 percent jump year-over-year to $473.2 million, and earnings per share were at 38 cents.
This is up from analyst expectations of $466.5 million and earnings per share of 34 cents, though further expenses added up to a $13.4 million net loss.
That led to a stock price decrease of over four percent in after hours to $154.20 where it’s currently hovering.
U.S. users accounted for the bulk of revenue at nearly $285 million or around 60 percent, and like revenue, Premium subscriptions are also up 46 percent.
In the second quarter, LinkedIn expects to earn anywhere from $500 to $505 million, and looks to exceed $2 billion in revenue for 2014.
“The first quarter was strong for LinkedIn in terms of our member engagement and financial results. We made significant progress against several strategic priorities including expanding internationally with our China launch, extending our shift to content marketing, and furthering our goal to make LinkedIn the definitive professional publishing platform by giving members the ability to publish long-form content.”
While there wasn’t an update on mobile figures, in Q4 2013, the social network announced that 41 percent of users now come from mobile devices.
Speaking of mobile, LinkedIn finally rolled out the ability to upload photos via the iOS app, and will soon make its way to Android and the mobile website.
Photo credit: ttnk