LinkedIn on Friday released its quarterly earnings reports and the company announced that revenue more than doubled in the last quarter causing stock to surge on Friday.
The business based social network reported $167.7 million in revenue for the fourth quarter 2011, beating expectations of $159.8 million.
With stock prices surging the company is now worth nearly 200% of it’s original $45 IPO offering with a market cap of $8.67 billion.
The company revealed non-GAAP income of $13.3 million which represents an increase in profitability. In comparison net income during the same period in 2010 was just $5.2 million.
Among some of the company’s biggest earning products during the quarter were Hiring Solutions, Marketing Solutions and Premium Subscriptions.
Along with incrased earnings the company recently announced the acquisition of it’s 150 millionth member.