LinkedIn Corp LNKD
Q1 2012 Earnings Call Transcript

Operator: Herman Leung, Susquehanna.

Herman Leung - Susquehanna: Great quarter guys. Two quick questions for you. First, I guess, on the (seat trend) additions, I know you guys added pretty healthy Hiring Solutions. Wondering if you can share with us how many seats that you are seeing in terms of additions and how that tracked higher going into the quarter? Then second is wondering if you can provide us a little bit more color on how much SlideShare actually added in terms of revenues to your guidance for the year?

Steve Sordello - SVP and CFO: Herman, this is Steve. So, in terms of seats – in terms of new customers, we were actually really (increasing) in the quarter adding about 1,200, especially against the backdrop of Q4 which was very strong and our average seat per customer really stayed the same roughly in that 3 to 4 range. In terms of the acquisition of SlideShare from a financial perspective, (indiscernible) in terms of the change in guidance, both in terms of top line and bottom line.

Operator: Heath Terry, Goldman Sachs.

Heath Terry - Goldman Sachs: With the 1,200 customers added in the Hiring Solutions business, is there any trend in terms of customer mix, whether it's specific industries that are showing the most strength or size of corporation that's in anyway different from the existing customer base that you had. Then just second on the mobile front with 22% of users coming in at the end of March. I was wondering if you could give us a sense of the profile of those users in terms of level of engagement relative to say your typical PC user, are they more likely to be subscribers that that type of thing.

Steve Sordello - SVP and CFO: This is Steve. In terms of the customer base, I would say that the trends broadly speaking international as we focus more on global expansion, pretty much nears our overall monetization mix, which increased to 36% of revenue from 31% last year. Then the other component is the SMB accounts, which currently makeup about 25% of our overall accounts. That's up nicely over the course of last year as well. So a shift little bit more towards the SMB side in terms of overall mix was as we expected.

Jeff Weiner - CEO: Then on the mobile front, we do see higher levels of engagement certainly on a per visit basis for both the smartphone application and our newly released iPad application. Those folks tend to near some of the more highly engaged members that we see on the website and I would expect that to hold for some of the monetization channels as well.

Operator: Kerry Rice, Needham & Company.

Kerry Rice - Needham & Company: Can you talk a little bit about the drivers in Premium Subscriptions that accelerated a little bit quarter-over-quarter and I was curious what maybe you were thinking that was driving that and then one more follow-up question.

Jeff Weiner - CEO: I am going to start and then I'll turn it over to Steve for some specifics on the model, but I think the overall strength we are seeing in the Premium Subscriptions platform is largely due to the investments we've made there to take it from what historically was that really one-size fits our model where every member, regardless of functional areas, seniority, geography, et cetera, was essentially seeing the same creative, the same offer and ultimately the same product. So, we invested in a platform that enables us to really segment, to understand the value propositions, to target creatives leveraging our own ad targeting capabilities and systems, to get the right person at the top of the right funnel with the right offer, the right price point on a global basis and of course the right product, and I think that's made a significant difference.