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Travel search company Kayak reported its first-ever public quarterly earnings today with $76.9 million in revenue, beating Wall Street expectations.
After a long delay, Kayak finally started trading on the NASDAQ stock exchange on July 20. The company’s IPO was worth $26 a share, and it has seen a slight rise since its debut. It closed trading today at $30.80.
Kayak earned $76.9 million revenue, a 36 percent increase year-over-year. Net income was $7.3 million, a 93 percent increase year-over-year. GAAP earnings per share totaled $0.19 versus $0.10 in the second quarter of 2011.
Wall Street analysts were expecting revenue of $75.3 million for the second quarter, according to FactSet Research.
One highlight is that the company has nearly doubled its mobile usage, something we’re seeing a lot these days with the booming sales of smartphones and tablet. The company writes:
We processed 57 million queries through our mobile applications, a 95% year-over-year increase from the second quarter of 2011. Revenue per thousand mobile queries, or mobile RPM of $46, increased 42% year-over-year from $33 in the second quarter of 2011.
While Wall Street expectations were beaten slightly, investors don’t seem too impressed. Kayak’s stock is trading down about 5 percent in after-hours trading.
Plane taking off photo via Shutterstock
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