LNKD - Linkedin Corporation - Q2 2013 Earnings Call Transcript

    Ticker:LNKD
    Company Name:Linkedin Corporation
    Event Title:Q2 2013 Earnings Call Transcript
    Event Date:01-Aug-2013
    Event Time:05:00 PM ET

    Presentation



    Operator

    Good day ladies and gentlemen and welcome to LinkedIn Second Quarter 2013 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later we'll conduct a question-and-answer session and instructions will be given at that time. [Operator Instructions]. As a reminder, this conference call is being recorded .

    I would now like to turn the conference over to Mr. Matt Sonefeldt, Head of Investor Relations. Sir you may begin.

    Matt Sonefeldt

    Head of Investor Relations
    Good afternoon. Welcome to LinkedIn's second quarter of 2013 earnings call. Joining me today to discuss our results are CEO, Jeff Weiner; and CFO, Steve Sordello.

    Before we begin, I would like to remind you that during the course of this conference call, management will make forward-looking statements which are subject to various risks and uncertainties. These include statements relating to expected member growth and engagement, our product offerings including mobile and our product deployment process, results of our R&D efforts, revenue including revenue growth rates of our three product lines Talent Solutions , Marketing Solutions and Premium Subscriptions , adjusted EBITDA , depreciation and amortization , stock-based compensation, share dilution, taxes, the product mix between online and field sales , churn rate and expenses.

    Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. A discussion of risks and uncertainties related to our business is contained in our filings with the Securities and Exchange Commission and particular with section entitled risk factors and our quarterly and annual reports and we refer you to these filings.

    Also I would like to remind you that during the course of this conference call we may discuss some non-GAAP measures and talking about the company's performance reconciliations to the most directly comparable GAAP financial measures are provided in the tables in the press release.

    This conference call is also being broadcast on the internet and is available for the Investor Relations section of the LinkedIn website and with that I will turn the call over to our CEO. And with that I will turn the call to our CEO Jeff Weiner.

    Jeff Weiner

    Chief Executive Officer
    Thank you, Matt and welcome to today's conference call. I will start by summarizing the operating results for the second quarter of 2013 and I'll recap some of the highlights and key milestones since our last call. I'll then turn it over to Steve for a more detailed look at the numbers and outlook. Q2 is a strong quarter for Linkedin.

    We introduced several new products and saw many of our existing products with significant new levels of scale. We exited the second quarter with number engagement and financial results at record levels. For Q2 overall revenues grew 59% to a record $364 million. We delivered adjusted EBITDA of $89 million translating to non-GAAP EPS of $0.38.

    At the end of Q2, cumulative membership grew 37% year-over-year to more than 238 million members the first quarter-over-quarter acceleration since the period following our IPO in 2011. This strong membership growth is due in large part to new growth optimizations. efforts. Professionals outside the United States, now make up more than 65% of LinkedIn.

    With regards to engagement as measured by CompScore which excludes mobile, LinkedIn and SlideShare combines for an average of 189 million unique visitors in Q2.

    When excluding SlideShare, we averaged 143 million monthly unique visitors during Q2 growing 34% year-over-year and acceleration over Q1's growth rate.


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