Net profit climbed 12% to $12.9 billion.
Microsoft’s LinkedIn has once again seen record engagement, with more than 930 million members turning to the professional social network to connect, learn, sell and get hired. With the number of student sign-ups on LinkedIn rising 73% year-over-year and the platform now counting 100 million members in India, it’s no wonder that the company is seeing a steady rise in revenue. CEO Satya Nadella, speaking to analysts in the earnings call, reported a 8% increase in revenue on a reported basis, and 10% in constant currency – that’s a total of $3.9 billion!
Moreover, LinkedIn’s hiring business has seen continued growth, taking share for the third consecutive quarter. This can undoubtedly be attributed to their new AI-powered features, from writing suggestions for job descriptions to their collaboration with OpenAI.
As we look ahead to the fourth quarter, Microsoft CFO Amy Hood is forecasting a mid-single digits rise in LinkedIn revenue, which is an incredibly promising forecast for the company. With a net profit of $12.9 billion in the previous quarter, there’s no doubt that Microsoft and LinkedIn have a great future ahead of them.