Social enterprise network LinkedIn has destroyed Q4 2012 estimates. On Thursday the company announced revenue for the quarter of $303.6 million, and earnings per share of $0.35, on a non-GAAP basis. Analysts had expected LinkedIn to earn $280 million with an earnings per share of $0.19.
LinkedIn was down several points in early trading before the social network increased quarterly revenue by 81 percent year-over-year. LinkedIn also announced a 39 percent increase in users year-over-year with more than 200 million active users now taking advantage of the network.
Net income on a non-GAAP basis rose from $13.3 million to $40.2 million year-over-year. On a GAAP basis numbers climbed from $6.9 million to $11.5 million.
LinkedIn was valued at $13.3 billion before announcing its higher than expected quarterly earnings.
In its sequential quarter LinkedIn reported revenue of $252 millions with $0.22 earnings per share.
International revenue for Q4 2012 accounted for 38 percent of LinkedIn’s revenues, despite two-thirds of its user base living outside of the United States.
Through all of 2012 LinkedIn took in $972.3 million in revenue with non-GAAP earnings per share of $0.89.
LinkedIn estimates Q1 2013 revenue of $305 million to $310 million. For 2013 LinkedIn predicts between $1.41 and $1.44 billion.