Since buying LinkedIn in a $26 billion deal back 2016, Microsoft’s focus has been growing the business social platform. It seems those goals are paying off. During its latest earnings call, Microsoft confirms LinkedIn is thriving and is reporting growth almost across the board.
Of course, this reflects Microsoft’s overall success across all its businesses. The company is on the crest of a wave, which just so happens to have been rolling for half a decade.
In terms of LinkedIn, the company reports sessions on the platform increased by 19% last quarter, year-on-year. Furthermore, there was record engagement which pushed revenue up 42% compared to the same period last year.
Microsoft pegs the better-than-expected revenue increase on the Talent Solutions within the jobs market. Of course, LinkedIn still makes the bulk of its money by selling datasets to recruitment and other organizations.
Ongoing Growth
Microsoft CEO Satya Nadella says LinkedIn is enjoying more engagement as an increasing number of people join the platform. He says services covering growing, learning, hiring, and communication are making LinkedIn a valuable tool for organizations and individuals.
He points to a 160% increase in the number of hires on the network year-on-year, and over 15,000 enterprise customers using LinkedIn Learning.
Earlier this month, Microsoft decided to remove LinkedIn from China. The company made the decision as the platform was too restricted in the country. In its place, Microsoft opened the InJobs app for Chinese users.
It is unclear if the removal of LinkedIn in China will impact future earnings and growth of the company.
If you want to learn more about automation, check out this overview about LinkedIn bots on The Small Business Blog.
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Last Updated on March 29, 2022 6:33 pm CEST by Markus Kasanmascheff
