XML 17 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Agency revenues $ 1,064,640 $ 771,996 $ 1,834,568 $ 1,309,623
Merchant revenues 580,224 551,024 1,108,788 1,047,433
Advertising and other revenues 35,374 3,739 38,894 6,950
Total revenues 1,680,238 1,326,759 2,982,250 2,364,006
Cost of revenues 296,383 322,617 588,730 616,576
Gross profit 1,383,855 1,004,142 2,393,520 1,747,430
Operating expenses:        
Advertising - Online 463,135 314,480 866,288 591,616
Advertising - Offline 32,130 9,922 59,859 21,078
Sales and marketing 59,855 47,445 112,118 92,982
Personnel, including stock-based compensation of $34,736, $17,612, $56,445 and $34,135, respectively 165,997 108,030 300,215 208,706
General and administrative 64,921 39,807 115,082 80,481
Information technology 16,959 10,440 30,181 21,175
Depreciation and amortization 26,027 15,663 45,107 31,505
Total operating expenses 829,024 545,787 1,528,850 1,047,543
Operating income 554,831 458,355 864,670 699,887
Other income (expense):        
Interest income 1,141 1,001 2,015 2,099
Interest expense (19,633) (16,882) (36,962) (28,141)
Foreign currency transactions and other (782) 3,205 (3,724) 829
Total other income (expense) (19,274) (12,676) (38,671) (25,213)
Earnings before income taxes 535,557 445,679 825,999 674,674
Income tax expense 98,117 93,025 144,267 140,204
Net income 437,440 352,654 681,732 534,470
Less: net income attributable to noncontrolling interests 114 307 135 153
Net income applicable to common stockholders $ 437,326 $ 352,347 $ 681,597 $ 534,317
Net income applicable to common stockholders per basic common share (in dollars per share) $ 8.62 $ 7.07 $ 13.54 $ 10.73
Weighted average number of basic common shares outstanding (in shares) 50,760 49,812 50,348 49,819
Net income applicable to common stockholders per diluted common share (in dollars per share) $ 8.39 $ 6.88 $ 13.18 $ 10.41
Weighted average number of diluted common shares outstanding (in shares) 52,111 51,226 51,732 51,306