LinkedIn, the employment-focused social media platform owned by Microsoft, has unveiled its sales figures for its premium subscription service. The company disclosed that it amassed a total revenue of $1.7 billion in the year 2023. This revelation comes amidst a surge in user engagement with the innovative artificial intelligence (AI) tools introduced by the tech giant.Since its acquisition by Microsoft in 2016, LinkedIn had refrained from providing detailed financial breakdowns.

According to reports from Reuters, the platform had previously announced a total revenue of $15 billion for fiscal year 2023, with $7 billion attributed to its hiring software aimed at corporate recruiters.Over the past year, LinkedIn has made significant strides in bolstering its premium subscription service, available to job seekers and individual users starting at $39.99 per month.

Microsoft's deployment of various AI tools has enriched the user experience, including features such as message composition assistance and job application support. These tools analyze job postings, suggest suitable positions based on users' resumes, optimize profiles for recruiters, and even generate messages for job applications, enhancing the platform's utility for both job seekers and recruiters alike.