Professional networking platform LinkedIn has surpassed $10 billion in revenue for the first time this fiscal year (up 27 per cent), Microsoft Chairman and CEO Satya Nadella has said, adding that the video chat and collaboration app Teams now has nearly 250 million monthly active users.
The Microsoft-owned LinkedIn now has more than 774 million members who are more engaged than ever.
“Sessions were up 30 per cent this quarter compared to a year ago. And LinkedIn’s advertising business surpassed $1 billion in revenue this quarter for the first time, up 97 per cent year-over-year and growing three times faster than the category,” Nadella said during the company’s earnings call on Tuesday.
Microsoft acquired LinkedIn in 2016 for $26.2 billion and in the past five years, revenue has nearly tripled and growth has accelerated.
“LinkedIn has become a leader across multiple secular growth areas spanning B2B advertising, professional hiring, corporate learning and sales intelligence,” Nadella said.
Nadella said that hybrid work represents the biggest change to the way we work in a generation and will require a new operating model spanning people, places and processes.
“We’re the only cloud that supports everything an organization needs to successfully make the shift. Microsoft Teams is the new front end,” he told the analysts.
“We are nearly 250 million monthly active users as people use Teams each day to communicate and collaborate across work, life and learning”.
Microsoft has nearly 80 million monthly active Teams Phones users with total calls surpassing 1 billion in a single month this quarter.
“We are bringing Teams to consumers so people can connect and collaborate with family and friends across desktop, mobile and the web. All this innovation is driving growth. Nearly 124 organisations now have more than 100,000 users of Teams. And nearly 3,000 have more than 10,000 users,” Nadella informed.