Social media company, LinkedIn, released its second quarter earnings last week and the company's revenue numbers were up, according to Business Insider. LinkedIn took in a total of $228 million in revenue, compared to $121 million during the same quarter last year. The advertising revenue grew from $38 million during the second quarter of 2011 to $63 million during the second quarter of 2012.
The news of the increased revenues sent the price of the stock to shoot up from $93.51 to $112 on August 2, 2012. The stock has since settled around the $105 mark. According to CEO Jeff Weiner, the company could reach revenues of $1 billion by the end of the year.