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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Income Statement [Abstract]    
Agency revenues $ 1,949 $ 2,113
Merchant revenues 603 526
Advertising and other revenues 285 289
Total revenues 2,837 2,928
Operating expenses:    
Performance marketing 1,030 1,106
Brand marketing 163 101
Sales and other expenses 215 166
Personnel, including stock-based compensation of $74 and $71, respectively 501 499
General and administrative 191 163
Information technology 65 60
Depreciation and amortization 116 103
Total operating expenses 2,281 2,198
Operating income 556 730
Other income (expense):    
Interest income 35 47
Interest expense (66) (70)
Net unrealized gains on marketable equity securities 451 55
Foreign currency transactions and other (8) (9)
Total other income 412 23
Earnings before income taxes 968 753
Income tax expense 203 146
Net income [1] $ 765 $ 607
Net income applicable to common stockholders per basic common share (in dollars per share) $ 17.01 $ 12.56
Weighted-average number of basic common shares outstanding (in shares) 45,007 48,349
Net income applicable to common stockholders per diluted common share (in dollars per share) $ 16.85 $ 12.34
Weighted-average number of diluted common shares outstanding (in shares) 45,436 49,205
[1] The Company realized net gains of $1 million for the three months ended March 31, 2019 from sales of investments in debt securities.