LinkedIn has seen posted strong revenue growth for 2012 after a successful 12 months, but its ability to generate profits remains open to question.
The self-styled social business network saw yearly revenues reach $972m, up from $522m in in 2011, a rise of 86 percent. This was helped by a strong final quarter of the year with revenues at $303m, up 81 percent from $167m in the same period in 2011.
While revenues increased notably so did the firm's expenses, almost doubling from $496m in 2011 to $915m. Overall this meant it only generated profits of $21m, up slightly from $12m in 2011.
Nevertheless, LinkedIn chief executive Jeff Weiner said the results proved the firm had delivered on its strategy for 2012 as new products and services proved compelling to users.
"We exited 2011 having successfully revamped our underlying development infrastructure. Based on that investment, we said that 2012 would be a year of accelerated product innovation, and it was," he said.
"The products we delivered throughout the year drove member engagement and financial results to record levels in the fourth quarter."
The results were driven by a number of offerings from the firm including Talent Solutions, which raised $161m in the fourth quarter of 2012 and Marketing Solutions, which raise $83m.
The firm's Premium Subscription offering also helped generate $59m over the fourth quarter, up 79 percent year-on-year.
The firm revealed at the start of the year that it now has 200 million users of it site an in its earnings report it said this had risen to 202 million as it continues to grow.
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