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- Engagement hit a record high at LinkedIn in the last quarter of 2021 amid the Great Reshuffle.
- LinkedIn ad revenues rose 37% on-year, contributing to a 21% jump in quarterly profits at its parent company Microsoft.
- The site currently has more than 806 million members globally.
Tech giant Microsoft has gotten a boost from the Great Reshuffle as the trend's driving more people to use its LinkedIn careers platform.
LinkedIn's engagement hit a record high in the last quarter of 2021, Microsoft CEO Satya Nadella said in a conference call with analysts and investors on Tuesday. LinkedIn ad revenues rose 37% from a year ago, contributing to a 21% jump in profits at parent company Microsoft for the quarter ending December 31.
"We are experiencing a Great Reshuffle across the labor market as more people in more places than ever rethink how, where, why they work," said Nadella, according to a transcript.
As employers and employees search for new options, people landing a job via the platform increased 110% in 2021 from a year ago, Nadella continued.
LinkedIn's strong growth is despite the platform shutting down its local version in China late last year following criticism over censorship.
The career networking site currently boasts more than 810 million members globally — a 12% increase over its October 2020 membership numbers. It does not specify how many members are paying members versus free users.
Microsoft bought LinkedIn for $26.2 billion in 2016 and is the tech giant's largest acquisition to date — though its latest $70 billion deal to buy Activision Blizzard would top that.
Title: The Great Reshuffle is helping Microsoft as engagement and advertising on its LinkedIn job platform soar
Sourced From: www.businessinsider.com/great-reshuffle-helps-microsoft-as-linkedin-ad-revenue-soars-2022-1
Published Date: Thu, 27 Jan 2022 06:52:38 +0000
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