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LinkedIn

Eversheds comments on LinkedIn revenue report

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By The Drum Team, Editorial

August 5, 2011 | 2 min read

Professional networking website LinkedIn today reported a 120 per cent increase in revenues and a slight rise in profits for the second quarter.

Sam Jardine, associate in the TMT Group at international law firm Eversheds, said: “There are two important points relating to LinkedIn’s announcement: One, counter to the current “tech bubble” hype the industry isn’t partying like it’s 1999. The valuations are under daily media scrutiny, which they weren’t subject to back then and the braking mechanism of the naysayers is genuinely helping to keep things realistic.

“Two, leaving the huge revenue increase aside, (which LinkedIn always expected post-IPO), the really positive news here is the 5.1 per cent increase in its actual profits. This is not a huge amount but is a massive shot in the arm for what has traditionally been a loss-making sector, and one in which LinkedIn is increasingly being viewed as the main bellwether.”

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