LinkedIn did it again, posting earnings Thursday that blew past Wall Street's expectations.
LinkedIn earned 38 cents per share on revenue of $363.7 million in the second quarter, an increase of 59 percent from the year ago quarter. The professional social network, which now touts 238 million members, posted net income of $3.7 million, when accounting for all expenses.
Analysts were looking for adjusted earnings per share of 31 cents on revenue of $353.85 million.
"Accelerated member growth and strong engagement drove record operating and financial results in the second quarter," CEO Jeff Weiner said. "We are continuing to invest in driving scale across the LinkedIn platform in order to fully realize our long-term potential."
LinkedIn's biggest money-maker continues to be Talent Solutions, a suite of hiring-related products for company recruiters. Revenue from Talent Solutions grew 69 percent from a year ago to $205.1 million. LinkedIn made $85.6 million from its marketing products and $73 million from selling premium member subscriptions. The businesses grew 36 percent and 68 percent respectively from the year-ago quarter.
The Q2 earnings report comes a week after the widespread release of Sponsored Updates, a Web and mobile in-stream ad unit similar to Twitter's Promoted Tweets and Facebook's Sponsored Stories that the professional social network believes will funnel more revenue to its marketing solutions business.
LinkedIn's stock spent most of Thursday climbing in anticipation of the report. Shares closed the day up 4.5 percent at $213, and are now up an additional 6 percent in after-hours trading.