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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Total revenues $ 4,294 $ 2,160 $ 6,989 $ 3,301
Operating expenses:        
Marketing expenses 1,737 988 2,884 1,449
Sales and other expenses 465 206 804 318
Personnel, including stock-based compensation of $108, $90, $201 and $199, respectively 635 686 1,231 1,238
General and administrative 207 134 365 253
Information technology 137 93 271 180
Depreciation and amortization 107 108 218 221
Restructuring, disposal, and other exit costs 6 1 42 9
Total operating expenses 3,294 2,216 5,815 3,668
Operating income (loss) 1,000 (56) 1,174 (367)
Interest expense (76) (81) (144) (179)
Other income (expense), net 220 96 (735) 227
Income (loss) before income taxes 1,144 (41) 295 (319)
Income tax expense (benefit) 287 126 138 (97)
Net income (loss) $ 857 $ (167) $ 157 $ (222)
Net income (loss) applicable to common stockholders per basic common share $ 21.15 $ (4.08) $ 3.86 $ (5.42)
Weighted-average number of basic common shares outstanding (in 000's) 40,512 41,054 40,715 41,014
Net income (loss) applicable to common stockholders per diluted common share $ 21.07 $ (4.08) $ 3.84 $ (5.42)
Weighted-average number of diluted common shares outstanding (in 000's) 40,665 41,054 40,927 41,014
Agency revenues        
Total revenues $ 2,301 $ 1,328 $ 3,751 $ 2,045
Merchant revenues        
Total revenues 1,749 661 2,799 1,034
Advertising and other revenues        
Total revenues $ 244 $ 171 $ 439 $ 222