As you can see here, LinkedIn continues to see an increase in both active sessions and the number of in-app engagements, while its revenue performance increases alongside this activity:
According to Microsoft
“LinkedIn revenue increased 46% (up 42% at constant currencies) driven by Marketing Solutions growth of 97% (up 91% at constant currencies)”
As more people turn to the platform as the U.S. economy seeks to get back on track, with the vaccine rollout opening up more areas, more brands are looking to connect with it. decision makers through LinkedIn’s advertising tools, thus improving the performance of marketing solutions, while it also benefited from the switch to online events instead of face-to-face meetings.
LinkedIn has also made a more concerted effort to connect with relevant brands and showcase its reach capacity, which is clearly paying off, based on these numbers.
What’s more, LinkedIn also took another important milestone, with the platform’s revenue now surpassing $ 10 billion for the first time in the year, up 27%.
According to Microsoft CEO Satya Nadella:
“Our results show that when we perform well and meet customer needs in a differentiated way in large and growing markets, we drive growth, as we’ve seen in our business cloud – and in the new franchises that we have. have built, including games, security, and LinkedIn, all of which have surpassed $ 10 billion in annual revenues over the past three years.
Overall, Microsoft’s revenue grew 21% year-over-year for the quarter to $ 46.2 billion, while Microsoft’s full-year revenue was $ 168.1 billion, up 18%, underscoring the tech giant’s continued strength.
As more businesses increasingly depend on digital connectivity, especially during the pandemic, all major tech players have benefited, and Microsoft’s various divisions are delivering strong results, with LinkedIn now becoming a contributor key to this growth.
Which has not always been the case. In 2016, when Microsoft acquired LinkedIn for $ 26.2 billion, the professional social network was in the process of generating $ 3.7 billion for the entire year. At that time, LinkedIn had around 430 million members, which has now grown to 774 million, as it continues to report “record engagement levels” virtually every quarter since Microsoft’s merger.
This has helped increase the overall advertising exposure, while the platform has also developed a range of new advertising tools, especially in terms of video content (according to LinkedIn, its users are 20 times more likely to share a video on the platform than any other type of post), which increased the brand’s opportunities to use the platform to connect with relevant audiences.
Ideally, of course, LinkedIn would provide more specific data on active user accounts, as “members” are not representative of the number of people who log in and scroll through the app each day. Nonetheless, the available data suggests that LinkedIn is on the right track in terms of improving user engagement and building membership, which may be worth considering in your process.
You can check out LinkedIn’s full Q3 2021 performance update. here.