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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Merchant revenues$ 573,230$ 494,473$ 1,558,564$ 1,309,407
Agency revenues876,601504,0101,797,2041,034,765
Other revenues2,9733,2749,0719,419
Total revenues1,452,8041,001,7573,364,8392,353,591
Cost of revenues352,656335,5691,009,657923,032
Gross profit1,100,148666,1882,355,1821,430,559
Operating expenses:    
Advertising - Online279,926172,727701,317418,354
Advertising - Offline8,0357,77329,46329,684
Sales and marketing47,12433,060122,93185,663
Personnel, including stock-based compensation of $13,298, $21,176, $40,404 and $48,550, respectively94,46382,007255,450194,635
General and administrative31,71715,73087,33456,224
Information technology8,5485,34723,45614,850
Depreciation and amortization13,95712,77540,08733,312
Total operating expenses483,770329,4191,260,038832,722
Operating income616,378336,7691,095,144597,837
Other income (expense):    
Interest income2,5269186,0752,713
Interest expense(7,879)(8,293)(23,389)(22,366)
Foreign currency transactions and other827(10,715)(8,696)(12,806)
Total other income (expense)(4,526)(18,090)(26,010)(32,459)
Earnings before income taxes611,852318,6791,069,134565,378
Income tax expense(138,966)(94,119)(235,959)(172,347)
Net income472,886224,560833,175393,031
Less: net income attributable to noncontrolling interests3,3871,5802,5201,219
Net income applicable to common stockholders$ 469,499$ 222,980$ 830,655$ 391,812
Net income applicable to common stockholders per basic common share (in dollars per share)$ 9.43$ 4.59$ 16.74$ 8.24
Weighted average number of basic common shares outstanding (in shares)49,77948,57049,60747,565
Net income applicable to common stockholders per diluted common share (in dollars per share)$ 9.17$ 4.41$ 16.23$ 7.70
Weighted average number of diluted common shares outstanding (in shares)51,18450,55951,19350,917