Revenue Is 34% Up YoY and user count reaches 830 mln.
LinkedIn marks a 34% YoY increase in income reaching $3.44 billion and ‘record levels of user engagement’ for the quarter ended March 31, 2022. Microsoft has shared its latest performance update on Tuesday, which also consists of the latest data on LinkedIn’s performance, and how it’s steadily growing amid the shifting, post-COVID job market, SocialMediaToday reported following the tech giant’s FY22 Q3 financial report.
According to Microsoft CEO Satya Nadella, more than 830 million professionals use the platform to connect, learn, grow, and get hired. “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”, Nadela added. 28 million members now subscribe to at least one newsletter on LinkedIn, up 51 percent over the past quarter alone.
In this dynamic labor market, hires on LinkedIn increased 88 percent. Talent Solutions revenue was up 43 percent, marking the sixth consecutive quarter of accelerating growth.
Satya Nadella
As it is clear to observe, LinkedIn sessions grew 22% within the quarter, underlining its steady rise, whereas Microsoft has reported ‘file ranges’ of engagement progress in the application for eight straight quarters. It is curious to note that the professional networking platform marked the exact engagement growth it had a year ago.
Microsoft says that LinkedIn’s income power comes on the back of elevated demand for its Talent Solutions offerings, in line with a powerful job market, while Marketing Solutions is also performing well as more companies seem to tap into that increased engagement.
“Going forward, digital technology will be the key input that powers the world’s economic output,” said Satya Nadella, chairman and chief executive officer of Microsoft. “Across the tech stack, we are expanding our opportunity and taking share as we help customers differentiate, build resilience, and do more with less.”
A big focus for LinkedIn this quarter has been adding more tools to help creators and solopreneurs make the best of their opportunities, especially leading into the post-covid phase. ‘The Great Reshuffle’, as LinkedIn has called it, which has been accelerated by the home office type of work, provides new opportunities for LinkedIn to act as a connective platform, enabling members to showcase their professional capabilities and expertise, while also helping recruiters find better employees for their open roles through its improving Human Resources tools.
Certainly, Microsoft has enabled customers of Outlook, SharePoint, OneDrive, and the most recent one of Teams to add their LinkedIn accounts to their application accounts, offering extra context and background in mail exchanges and video conferences. What is more, Microsoft is not only utilizing LinkedIn insight to maximize its own marketing and advertising efforts, but also for members, the merger of the two platforms was meant to not be too overwhelming, which has provided more room for LinkedIn to emphasize its core elements, and build upon its new improved opportunities.
Building on these improvements, LinkedIn has added new analytics and profile video options, along with improvements for its ‘Services’ listings for freelancers and the recently launched ‘Career Pathfinder’ tool. There’s a big potential/ opportunity within the new recent changes for LinkedIn to become the essential platform for career advancement, while these new tools also ensure users with new options regarding creating unique content.
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