FINANCIALS: Mixed news for recruiters but LinkedIn sees major growth from hiring tools
Two recruiters have reported mixed financial results, while significant growth at LinkedIn was achieved on the back of its recruitment solutions.
At professional social network LinkedIn, revenue from its recruitment-focused Talent Solutions (formerly known as Hiring Solutions) tools nearly doubled in Q3 2012 compared with the same period in 2011, rising 95% to $138.4m (£86m).
The company was also boosted by a 60% rise in Marketing Solutions revenues and 74% from premium subscriptions, to reach $252m in total, with net income of $2.3m following a $1.6m loss in Q3 2011.
Meanwhile, recruitment firm Hudson saw revenues drop 23% in the same time period to $187.9m, while adjusted earning before interest, tax, depreciation and amortisation (EBITDA) was $1.5m, down from $7.7m previously.
And Parity Resources, the IT recruitment arm of business Parity Group, saw revenues rise period-on-period 11% in the first half of 2012, reaching £38.3m. It has increased the average number of professionals contracted to clients during the period to 779, up from 684 in the first half of 2011, and 723 in the second half of the year.
