LinkedIn revenue rose 34% year-over-year to $3.44 billion, and the platform is seeing record engagement, Microsoft Corp. (NASDAQ: MSFT) reported in announcing earnings for its fiscal third quarter ended March 31. LinkedIn’s revenue increase in constant currency was 35%.
“We once again saw record engagement as more than 830 million professionals used the platform to connect, learn, grow and get hired,” Microsoft Chairman and CEO Satya Nadella said. “Amid the Great Reshuffle, we’re seeing a skills-first labor market emerge. The number of companies using skills filters on LinkedIn to fill open roles has doubled year over year.”
Hires on LinkedIn increased by 88%, Nadella said, and LinkedIn’s “talent solutions” revenue was up 43% year over year in the quarter — the sixth consecutive quarter of accelerating growth. Talent solutions enables businesses to find and hire workers on the platform.
Revenue from LinkedIn marketing solutions — which comes from ads on the platform — also did well, he said, and added creators are increasingly turning to the platform to establish their voices and grow their communities.
Amy Hood, executive VP and CFO at Microsoft, said LinkedIn revenue is expected to grow in the high 20s in the fourth quarter, “driven by the strong job market and healthy engagement on the platform.”
Overall, third-quarter revenue at Microsoft was $49.36 billion, an increase of 18% year over year. Gross margin was 68%, and net income was $16.7 billion.