As part of its broader Q3 2020 Performance report, Microsoft has reported that LinkedIn has seen ongoing growth in both total members and engagement. But there’s also been a slowdown in ad spend and job listings as the impacts of COVID-19 take effect.
How you view that number will be relative – some businesses are seeing significantly more referral traffic from LinkedIn, and increased engagement on their posts, while others believe that much of that extra ‘engagement’ is actually being fueled by Facebook-like personal posts and gimmicky updates designed to draw clicks, as opposed to communicating professional information.
Your own experience will inform how you view such, but in overall terms, LinkedIn now has more users than ever before, and those users are more active on the platform than in times past. That could facilitate greater opportunity to connect.
In terms of revenue, as you can see in the above snapshot, LinkedIn revenue increased 21% for the quarter, but it is seeing slowing demand in both its ads and job listings due to the impacts of COVID-19.
“We expect continued strong engagement on the platform. However, a material mix of revenue is driven by customer hiring needs and advertising, therefore we expect a significant slowdown to mid-single digit revenue growth.”
Given its correlating expansion in overall members and usage, LinkedIn looks set to limit the impacts of the lockdowns on its bottom line. But they will have an impact on performance – and that’ll likely be ongoing, depending on how long the COVID-19 mitigation processes remain in place.
Overall, LinkedIn continues to perform well, and deliver good results for parent company Microsoft. Again, personal experience will dictate your view of the platform, but the data shows that there are more people using the app, and with more tools to connect, like live-streaming and its recently expanded Events feature, it could be worthy of increased focus.
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