LinkedIn revenues and profit well above analyst expectations

LinkedIn announced Q3 results that beat analyst predictions for profit and revenue.

The profit came from an 81% increase in revenues – US$252 million compared to US$139.5 million in the third quarter of 2011.

Profits hit US$2.3 million in Q3 compared to a US$1.6 million loss in the same period last year.

LinkedIn forecasts revenue of around US$275 million for Q4, which would make the whole fiscal year total US$944 million. The previous forecast was for revenues to total around US$925 million.

Chief executive Jeff Weiner said: “The last few months have been the most significant period of product development in the company’s history.”

These developments included notifications, revamped company pages and endorsements, which allow LinkedIn members to recommend colleagues for their skills. The company says members have endorsed one another over 200 million times (and don’t we know it!) since the feature was implemented.