Pre-tax profits at the Irish-based arm of professional social network giant, LinkedIn last year increased more than three fold to $294.22m or €245.9m.
That is according to new accounts for LinkedIn Ireland Unlimited Company where pre-tax profits soared by 246% last year after revenues climbed 27% from $2.16bn to $2.76bn.
The directors state that the company recorded the $593m increase in revenues due to increases across all lines of business.
Last year, LinkedIn announced the creation of a further 800 jobs here that will bring the headcount at its European, Middle East, Africa (EMEA) HQ at Wilton Place in Dublin to 2,000.
The Microsoft-owned company also recorded a milestone in its Irish membership base passing the 2m mark in 2019.
The directors state that globally the number of members on the LinkedIn platform last year increased by 90m to over 660m.
The new accounts show that last year, numbers employed at the LinkedIn Dublin base increased by 315 from 1,296 to 1,611.
The $167.24m paid out in salaries last year shows that the average salary was $103,815 and this is before the $20.8m paid out in share based payments is taken into account.
Directors' pay last year increased from $1.29m to $1.5m.
The company has paid out dividends of $1bn over the last two years - the $200m payout last year followed a dividend payout of $800m in 2018.
The company’s operating profits last year more than doubled to $126.9m and interest receivable of $147m and a $46m profit on the sale of intangible assets added to the profits.
The company recorded post tax profits of $225.13m after paying corporation tax of $69.09m.
At the end of December last year, the company had shareholder funds of $6.2bn that included accumulated profits of $581m.
On the impact of Covid-19, the directors state that LinkedIn has made substantial changes to employee travel policies, implemented office closures and cancelled or shifted conferences to virtual only.
The directors state that the extent to which LinkedIn is impacted by Covid will depend on numerous evolving factors which cannot be reliably predicted.
However, management states that the factors "will result in a significant reduction in revenue growth as a material mix of LinkedIn's revenue is driven by customer hiring needs and advertising".
The company has subsidiaries based in the UK, France, Netherlands, India, Italy, Japan, Germany, Sweden, Brazil, Austria and Mexico.
