Microsoft reported a 34% increase in LinkedIn revenues in Q3 year-over-year (35% constant currency). There was record engagement once again as over 830M professionals applied the professional platform to keep in touch with business associates, clients, and co-workers, and look for better professional opportunities.
The world’s largest professional networking platform and also one of the most influential social media networks. There has been a strong shift toward a labor market focused primarily on skills, as companies use filters on the platform to fill emergent professional roles which have seen double growth over the last year.
Confirmed hires through LinkedIn are also up in a vibrant labor market at 88%, while Talent Solutions proceeds were also up 43%. This makes it the 6th successive quarter of accelerating growth. The marketing solutions offered by LinkedIn also saw a strong surge as Microsoft offered advertisers greater reach and return on investment.
Revenues are up at LinkedIn, reaching $3.44B. Active sessions on LinkedIn saw a 22% third-quarter growth. It highlighted its steady growth and mirrored its growth in the previous report.
Microsoft has not shared detailed information on the exact number of users or their breakup but has reported that the main strength of LinkedIn revenue is backed by the increase in demand for their Talent Solutions and Marketing solutions.
LinkedIn Has Turned Into An Indispensable Platform For Professional Advancement
The growth is in keeping with a strengthening job market as more industries look to exploit that improved engagement in a post-pandemic scenario.
LinkedIn has increasingly focused on bringing in more tools that help entrepreneurs and creators make the most of their opportunities in this opening-up phase.
The reshuffling in work platforms that has seen a move towards working from home has provided fresh prospects. It has come across as a networking platform and has enabled users to demonstrate and establish their professional competencies.
It has also helped employers find more accurate counterparts for their roles through developing HR tools.
