LinkedIn revenue up 23% in Oct-Dec 2020

New Ideas in MarketingEssential news for marketers, summarised by YouGov
February 02, 2021, 3:52 AM GMT+0

Conversations on LinkedIn increased 48%, while hours spent grew two times, compared to the last year, notes Microsoft.

LinkedIn experienced record-high engagement levels and surpassed revenue expectations according to Microsoft’s FY21 Q2 report. The professional networking site saw its sessions grow 30% and its revenue improve 23% in the last three months of 2020.

Further, with more advertisers shifting towards the platform to reach working professionals, LinkedIn Marketing Solutions surged over 50% in the earlier quarter. Sales Navigator provided more context, as advertisers pivoted to remote selling, thereby contributing to LinkedIn’s growing ad business.

The Microsoft-owned platform’s recently launched tool “Sales Insights” provides insights on key business opportunities based on the niche and parameters set. With LinkedIn in a strong position to benefit from the market shifts, Microsoft expects the platform’s engagement to propel revenue to grow in the low-20% range.

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