LinkedIn (NYSE:LNKD) last night took what analyst Michael Graham of Canaccord Genuity called “another step on the path toward becoming the default global hiring solution” when it released a very strong earnings report that throttled Wall Street’s expectations.

The business networking site’s success came through multiple revenue streams. The company’s only weakness, the monetizing of its mobile applications, still represents a great deal of untapped potential.

LinkedIn’s Hiring Solutions grew during the quarter to $84.9 million, above the street’s consensus of $82.8 million, up 136% over the last year. Corporate Solution customers rose from 1,870 to a total of 9,236.  LCS revenue per customer also increased, on average, by 10 percent, indicating stability of pricing, and speaking to LinkedIn’s efforts to gain more from existing accounts.

Revenue from Marketing Solutions was also well above expectations at $49.5 million, up 77 percent from the year earlier. Sales of display ads outpaced market growth, and LinkedIn expects demand to continue to outstrip supply.

But the company has not yet managed to cash in on mobile applications, which are presently utilized by 16 percent of its members. However, LinkedIn announced plans to begin using advertising in conjunction with its mobile features in an effort to further boost profits.

Premium subscriptions also beat the street, bringing in $33.3 million instead of the projected $29.7 million. Paid member subscriptions doubled for the year, and revenue was up 87 percent, aided by the company switching from annual contracts to monthly ones. According to Business Insider, if one were to combine LinkedIn’s stated revenue with subscription revenue categorized under Hiring Solutions, year-over-year growth would have been even greater, at 115 percent.

Here’s how LinkedIn shares closed the week:

Linkedin Corporation (NYSE:LNKD): LNKD shares recently traded at $89.99, up $13.6, or 17.8%. They have traded in a 52-week range of $60.14 to $122.70. Volume today was 12,456,879 shares versus a 3-month average volume of 1,840,250 shares. The company’s trailing P/E is 1,232.74, while trailing earnings are $0.07 per share.

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