LinkedIn’s parent company, Microsoft, released its Q4 report for the year 2020 and recorded $38 billion in revenue. The net income of Microsoft was $11.2 billion, while earnings per share were recorded at $1.46. The revenue of LinkedIn increased 10% during the quarter, while user engagement continued to increase, as LinkedIn navigates the various impacts of the coronavirus pandemic.
Microsoft is one of the first tech giants to report results for a complete quarter during the COVID-19 crisis. Last quarter, the company stated that the coronavirus pandemic had a minimal net impact on the total revenue of Microsoft. Microsoft stated that similar business trends to the last quarter continued.
Unlike other giants such as Facebook and Google, Microsoft does not generate the majority of the company’s revenue from ads, and thus it doesn't see much drastic decline in overall business growth. While we no longer get more detailed insights into the usage and engagement of LinkedIn after it was acquired by Microsoft. Previously, the professional social media platform provided more details into LinkedIn’s usage and engagement.
However, Microsoft’s report provides few keynotes on how the professional social network is placed, and how LinkedIn is performing in the current uncertain times of coronavirus pandemic. From a usage standpoint, the most prominent point of note is that LinkedIn continues to see growth in its user sessions.
According to Microsoft’s report, LinkedIn Sessions grew 27% during the fourth quarter of this year, continuing to build on many quarters of usage growth for the professional social media platform. Back in April of this year, LinkedIn also reported that it experienced record levels of engagement, which aligns with what most social media platforms are experiencing as the global coronavirus lockdowns have forced people to spend more time indoors.
However, LinkedIn is also seeing increased attention because of the impacts on worldwide hiring trends during the pandemic. As more and more individuals are out of work during the coronavirus lockdowns, LinkedIn is seeing more usage, as people look to expand their networks and make more professional connections.
Unfortunately, that has not been equally reflected in job listings, as Microsoft stated that LinkedIn was negatively affected by the weak job market and reductions in ad spend. Recently, the professional social network announced that it would reduce its worldwide workforce by 6 percent, largely because of the slowdown in job listings as well as recruitment activity.
Overall, the platform still posted double-digit revenue growth during the quarter, however, the varying impacts indicate how some sectors can still be impacted. LinkedIn still remains in a strong position, particularly considering the likely resumption of large-scale hiring in several regions once the lockdown orders are lifted.
In terms of overall users of the platform, LinkedIn officially remains at 690 million registered members, however, it is not the same as ‘active users.’
Read next: LinkedIn Now Displays Six Different Quick Creation Options At the Bottom of the Post Composer
Microsoft is one of the first tech giants to report results for a complete quarter during the COVID-19 crisis. Last quarter, the company stated that the coronavirus pandemic had a minimal net impact on the total revenue of Microsoft. Microsoft stated that similar business trends to the last quarter continued.
Unlike other giants such as Facebook and Google, Microsoft does not generate the majority of the company’s revenue from ads, and thus it doesn't see much drastic decline in overall business growth. While we no longer get more detailed insights into the usage and engagement of LinkedIn after it was acquired by Microsoft. Previously, the professional social media platform provided more details into LinkedIn’s usage and engagement.
However, Microsoft’s report provides few keynotes on how the professional social network is placed, and how LinkedIn is performing in the current uncertain times of coronavirus pandemic. From a usage standpoint, the most prominent point of note is that LinkedIn continues to see growth in its user sessions.
According to Microsoft’s report, LinkedIn Sessions grew 27% during the fourth quarter of this year, continuing to build on many quarters of usage growth for the professional social media platform. Back in April of this year, LinkedIn also reported that it experienced record levels of engagement, which aligns with what most social media platforms are experiencing as the global coronavirus lockdowns have forced people to spend more time indoors.
However, LinkedIn is also seeing increased attention because of the impacts on worldwide hiring trends during the pandemic. As more and more individuals are out of work during the coronavirus lockdowns, LinkedIn is seeing more usage, as people look to expand their networks and make more professional connections.
Unfortunately, that has not been equally reflected in job listings, as Microsoft stated that LinkedIn was negatively affected by the weak job market and reductions in ad spend. Recently, the professional social network announced that it would reduce its worldwide workforce by 6 percent, largely because of the slowdown in job listings as well as recruitment activity.
Overall, the platform still posted double-digit revenue growth during the quarter, however, the varying impacts indicate how some sectors can still be impacted. LinkedIn still remains in a strong position, particularly considering the likely resumption of large-scale hiring in several regions once the lockdown orders are lifted.
In terms of overall users of the platform, LinkedIn officially remains at 690 million registered members, however, it is not the same as ‘active users.’
Read next: LinkedIn Now Displays Six Different Quick Creation Options At the Bottom of the Post Composer
