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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Total revenues $ 6,052 $ 4,676 $ 13,041 $ 7,977
Operating expenses:        
Marketing expenses 1,795 1,378 4,679 2,827
Sales and other expenses 540 302 1,344 620
Personnel, including stock-based compensation of $101, $85, $302 and $284, respectively 636 591 1,867 1,829
General and administrative 262 179 627 432
Information technology 129 109 400 289
Depreciation and amortization 109 102 327 323
Restructuring, disposal, and other exit costs (2) 0 40 9
Total operating expenses 3,469 2,661 9,284 6,329
Operating income 2,583 2,015 3,757 1,648
Interest expense (102) (80) (246) (259)
Other income (expense), net (305) (967) (1,040) (740)
Income before income taxes 2,176 968 2,471 649
Income tax expense 510 199 648 102
Net income $ 1,666 $ 769 $ 1,823 $ 547
Net income applicable to common stockholders per basic common share $ 42.10 $ 18.73 $ 45.20 $ 13.33
Weighted-average number of basic common shares outstanding (in 000's) 39,564 41,068 40,326 41,032
Net income applicable to common stockholders per diluted common share $ 41.98 $ 18.60 $ 45.00 $ 13.22
Weighted-average number of diluted common shares outstanding (in 000's) 39,671 41,342 40,504 41,359
Agency revenues        
Total revenues $ 3,203 $ 2,867 $ 6,954 $ 4,912
Merchant revenues        
Total revenues 2,614 1,622 5,413 2,656
Advertising and other revenues        
Total revenues $ 235 $ 187 $ 674 $ 409