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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Income Statement [Abstract]        
Agency revenues $ 3,523,706 $ 2,892,449 $ 7,641,390 $ 6,245,439
Merchant revenues 684,289 620,290 1,624,467 1,608,189
Advertising and other revenues 226,034 177,813 612,132 540,945
Total revenues 4,434,029 3,690,552 9,877,989 8,394,573
Cost of revenues 59,476 101,489 217,387 356,242
Gross profit 4,374,553 3,589,063 9,660,602 8,038,331
Operating expenses:        
Performance advertising 1,224,345 1,040,149 3,352,707 2,740,821
Brand advertising 112,796 72,792 306,995 254,958
Sales and marketing 165,539 124,865 411,309 322,710
Personnel, including stock-based compensation of $66,421, $54,074, $192,248 and $175,050, respectively 483,438 347,610 1,220,176 988,615
General and administrative 142,823 114,586 420,004 340,273
Information technology 47,901 36,389 132,677 104,974
Depreciation and amortization 95,910 78,745 265,212 229,328
Impairment of goodwill 0 940,700 0 940,700
Total operating expenses 2,272,752 2,755,836 6,109,080 5,922,379
Operating income 2,101,801 833,227 3,551,522 2,115,952
Other income (expense):        
Interest income 41,483 24,218 110,296 65,857
Interest expense (66,338) (55,480) (182,997) (152,664)
Foreign currency transactions and other (10,101) (4,431) (21,249) (15,362)
Impairment of cost-method investments 0 0 0 (63,208)
Total other expense (34,956) (35,693) (93,950) (165,377)
Earnings before income taxes 2,066,845 797,534 3,457,572 1,950,575
Income tax expense 346,454 291,517 561,349 489,496
Net income $ 1,720,391 $ 506,017 $ 2,896,223 $ 1,461,079
Net income applicable to common stockholders per basic common share $ 35.12 $ 10.24 $ 58.99 $ 29.49
Weighted-average number of basic common shares outstanding 48,981 49,420 49,100 49,548
Net income applicable to common stockholders per diluted common share $ 34.43 $ 10.13 $ 57.85 $ 29.19
Weighted-average number of diluted common shares outstanding 49,972 49,975 50,064 50,048