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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Merchant revenues $ 496,409 $ 454,804
Agency revenues 537,627 351,422
Other revenues 3,211 3,094
Total revenues 1,037,247 809,320
Cost of revenues 293,959 303,512
Gross profit 743,288 505,808
Operating expenses:    
Advertising - Online 277,136 185,108
Advertising - Offline 11,157 11,614
Sales and marketing 45,537 34,778
Personnel, including stock-based compensation of $16,523 and $13,993, respectively 100,676 75,221
General and administrative 40,674 25,879
Information technology 10,735 6,670
Depreciation and amortization 15,842 12,479
Total operating expenses 501,757 351,749
Operating income 241,531 154,059
Other income (expense):    
Interest income 1,098 1,421
Interest expense (11,258) (7,715)
Foreign currency transactions and other (2,376) (7,073)
Total other income (expense) (12,536) (13,367)
Earnings before income taxes 228,995 140,692
Income tax expense (47,179) (36,679)
Net income 181,816 104,013
Less: net income attributable to noncontrolling interests (154) (777)
Net income applicable to common stockholders $ 181,970 $ 104,790
Net income applicable to common stockholders per basic common share (in dollars per share) $ 3.65 $ 2.12
Weighted average number of basic common shares outstanding (in shares) 49,827 49,319
Net income applicable to common stockholders per diluted common share (in dollars per share) $ 3.54 $ 2.05
Weighted average number of diluted common shares outstanding (in shares) 51,347 51,159