LinkedIn Corporation (LNKD) swung to a net profit for the quarter ended Sep. 30, 2016. The company has made a net profit of $8.56 million, or $ 0.06 a share in the quarter, against a net loss of $47.42 million, or $0.36 a share in the last year period. On the other hand, adjusted net income for the quarter stood at $163.29 million, or $1.18 a share compared with $103.45 million or $0.78 a share, a year ago.
Revenue during the quarter grew 23.11 percent to $959.79 million from $779.60 million in the previous year period. Gross margin for the quarter expanded 181 basis points over the previous year period to 87.52 percent. Operating margin for the quarter period stood at positive 2.40 percent as compared to a negative 4.71 percent for the previous year period.
Operating income for the quarter was $23.04 million, compared with an operating loss of $36.68 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $303.90 million compared with $208.09 million in the prior year period. At the same time, adjusted EBITDA margin improved 497 basis points in the quarter to 31.66 percent from 26.69 percent in the last year period.
"In Q3, continued product investments across our platform drove another quarter of strong engagement and financial performance," said Jeff Weiner, CEO of LinkedIn. "As we look forward, our combination with Microsoft creates the opportunity for us to dramatically increase the impact and scale with which we deliver value to our members and customers.
Cash and cash equivalents stood at $697.11 million as on Sep. 30, 2016, up 10.35 percent or $65.39 million from $631.72 million on Sep. 30, 2015.
Working capital increases marginally
LinkedIn Corporation has recorded an increase in the working capital over the last year. It stood at $2,842.94 million as at Sep. 30, 2016, up 2.59 percent or $71.74 million from $2,771.20 million on Sep. 30, 2015. Current ratio was at 3.26 as on Sep. 30, 2016, down from 3.66 on Sep. 30, 2015.
Days sales outstanding went down to 47 days for the quarter compared with 54 days for the same period last year.
At the same time, days payable outstanding went up to 115 days for the quarter from 96 for the same period last year.
Debt moves up marginally
LinkedIn Corporation has witnessed an increase in total debt over the last one year. It stood at $1,162.14 million as on Sep. 30, 2016, up 4.19 percent or $46.70 million from $1,115.44 million on Sep. 30, 2015. Linkedin Corp has witnessed an increase in long-term debt over the last one year. It stood at $1,162.14 million as on Sep. 30, 2016, up 4.19 percent or $46.70 million from $1,115.44 million on Sep. 30, 2015. Total debt was 15.38 percent of total assets as on Sep. 30, 2016, compared with 16.61 percent on Sep. 30, 2015. Debt to equity ratio was at 0.24 as on Sep. 30, 2016, down from 0.26 as on Sep. 30, 2015.
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