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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Total revenues $ 7,994 $ 7,341 $ 18,268 $ 16,581 Close
Operating expenses:        
Marketing expenses 2,151 2,022 5,700 5,340
Sales and other expenses 872 807 2,370 2,094
Personnel, including stock-based compensation of $148, $128, $432, and $369, respectively 868 788 2,501 2,262
General and administrative 575 305 873 821
Information technology 194 187 564 468
Depreciation and amortization 155 129 434 370
Total operating expenses 4,815 4,238 12,442 11,355 Close
Operating income 3,179 3,103 5,826 5,226 Close
Interest expense (305) (254) (788) (689) Close
Interest and dividend income 327 289 863 783 Close
Other income (expense), net (332) 11 (173) (250) CloseClose
Total Other Income Expenses -310.0 46.0 -98.0 -156.0 0.0 Close
Income before income taxes 2,869 3,149 5,728 5,070 CloseClose
Income tax expense 352 638 914 1,003 Close
Net income $ 2,517 $ 2,511 $ 4,814 $ 4,067 Close
Net income applicable to common stockholders per basic common share (in dollars per share) $ 75.37 $ 70.62 $ 142.38 $ 111.09
Weighted-average number of basic common shares outstanding (in shares) 33,401 35,570 33,814 36,615
Net income applicable to common stockholders per diluted common share (in dollars per share) $ 74.34 $ 69.80 $ 140.45 $ 110.02
Weighted-average number of diluted common shares outstanding (in shares) 33,864 35,987 34,278 36,971
Merchant revenues        
Total revenues $ 4,972 $ 3,945 $ 10,806 $ 8,467
Agency revenues        
Total revenues 2,753 3,135 6,660 7,346
Advertising and other revenues        
Total revenues $ 269 $ 261 $ 802 $ 768