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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Income Statement [Abstract]        
Agency revenues $ 1,582,153 $ 1,474,396 $ 2,781,501 $ 2,515,540
Merchant revenues 546,013 567,253 1,040,688 1,094,251
Advertising and other revenues 152,231 81,926 298,902 155,586
Total revenues 2,280,397 2,123,575 4,121,091 3,765,377
Cost of revenues 187,491 240,579 355,949 475,910
Gross profit 2,092,906 1,882,996 3,765,142 3,289,467
Operating expenses:        
Advertising — Online 770,818 639,655 1,414,034 1,160,503
Advertising — Offline 66,303 58,026 129,885 111,500
Sales and marketing 94,523 75,053 176,467 139,364
Personnel, including stock-based compensation of $60,164, $35,168, $114,172 and $73,971, respectively 289,156 221,852 548,140 416,383
General and administrative 98,945 91,067 199,123 164,048
Information technology 27,156 24,042 52,517 47,266
Depreciation and amortization 67,674 40,287 132,676 78,663
Total operating expenses 1,414,575 1,149,982 2,652,842 2,117,727
Operating income 678,331 733,014 1,112,300 1,171,740
Other income (expense):        
Interest income 13,037 1,634 24,633 2,675
Interest expense (41,547) (17,106) (75,026) (34,851)
Foreign currency transactions and other (1,444) (1,777) (6,287) (7,746)
Total other income (expense) (29,954) (17,249) (56,680) (39,922)
Earnings before income taxes 648,377 715,765 1,055,620 1,131,818
Income tax expense 131,345 139,314 205,261 224,149
Net income $ 517,032 $ 576,451 $ 850,359 $ 907,669
Net income applicable to common stockholders per basic common share $ 10.02 $ 11.00 $ 16.43 $ 17.36
Weighted-average number of basic common shares outstanding 51,589 52,397 51,748 52,275
Net income applicable to common stockholders per diluted common share $ 9.94 $ 10.89 $ 16.27 $ 17.12
Weighted-average number of diluted common shares outstanding 52,038 52,955 52,253 53,004