LinkedIn Listings an Economic Indicator?
Friday's jobs data might be considered weak, but job listings and employers seeking staff were strong for LinkedIn in the first quarter.
Could that be a sign of potential economic improvement ahead?
Consider: Late Thursday the company reported first-quarter revenueof $189 million, above expectations of $179 million. It also forecast second-quarter revenue of between $210 million to $215 million, above expectations of $208 million.
LinkedIn charges fees for analytical tools and expanded access to people who have posted profiles on its website. These fees generate most of LinkedIn's revenue. The company makes the rest of its money from advertising.
"We continue to see strength across the board in our hiring solutions business, both postings and people seeking people," CEO Jeff Weiner told CNBC's "Squawk on the Street"Friday. That means employers are still paying LinkedIn to find people, and jobseekers are still joining to look at the job postings.
"We're trying to maximize the value we deliver to members," he said. "The more engaged our members are, the more value we can provide to our customers" who pay to advertise.
That would be good for the economy, as well as the company.
—Reuters contributed to this report.