LinkedIn has revealed Q4 profits of $40.2 million, double the amount expected by industry experts.
Turnover was also higher than expected at $304 million, a year-on-year rise of 81 per cent.
These impressive figures mark the end of a successful year for the professional social network, which saw its registered user-base swell to more than 200 million in 2012.
Steve Sordello, CFO at LinkedIn, took to the company blog to share his thoughts on the announcement.
He said, “2012 was a transformative year for LinkedIn. We exited 2011 having successfully revamped our underlying development infrastructure. Based on that investment, we said that 2012 would be a year of accelerated product innovation, and it was.
“The products we delivered throughout the year drove member engagement and financial results to record levels in the fourth quarter.”
News of LinkedIn’s successes over the last 12 months has been welcomed without surprise in social media circles.
Julia Bramble, director of Bramble Buzz, said, "The world has woken up to the fact that people on LinkedIn are there to do business, so they are already in the right context and mindset to be marketed to.
“You can't say the same of Twitter and Facebook, although it is undoubtedly the huge success of these platforms that has driven this upsurge in interest in LinkedIn.”
In traditional LinkedIn style the Q4 2012 earnings presentation is available via Slideshare, and is embedded below.