LinkedIn's jobs, subscription growth solid; ad growth continues to lag

|About: LinkedIn (LNKD)|By:, SA News Editor

LinkedIn's (LNKD) Talent Solutions (jobs) revenue rose 62% Y/Y in Q3 after rising 69% in Q2, and now makes up 57% of revenue. Subscription sales (20% of revenue) were also healthy, growing 61% after rising 68% in Q2.

Marketing Solutions (ads, 23% of revenue) remain a relative laggard thanks to the transition to news feed ads: sales grew 38% Y/Y after rising 36% in Q2. Though no explanation is given in the PR for LinkedIn's below-consensus Q4 guidance, ads were blamed for the company's light Q3 guidance in July.

U.S. sales made up 62% of revenue, unchanged Q/Q. EMEA was 23%, Asia-Pac 8%, and the rest of the world 7%. Much like Facebook and Twitter, LinkedIn's international monetization continues to notably trail its U.S. monetization on a per-user basis.

Registered users +9% Q/Q and +39% Y/Y to 259M. ComScore estimates PC unique visitors and page views respectively fell by 1M and 100M Q/Q to 142M and 11.6B (after factoring mobile, total growth was almost certainly positive).

LinkedIn continues to spend aggressively: sales/marketing spend +60% Y/Y to $133.2M, R&D +46% to to $106.2M, G&A +86% to $61.8M. Nonetheless, LinkedIn now expects 2013 adjusted EBITDA of $364M, above prior guidance of $340M-$355M.

Shares -3.2% AH. Q3 results, PR, slides.