Kayak’s First Public Quarter Returns Record Revenues

In its first earnings report as a public company, Kayak notched record revenues to beat analyst expectations.

The online travel company said second-quarter revenues totaled $76.9 million, a 36 percent increase over the same period a year earlier.

Wall Street was forecasting sales of $75.3 million for the quarter, according to FactSet Research, which compiles analyst estimates, and Kayak was hoping to report revenue between $74.5 million and $76 million.

The company said net income totaled $7.3 million, or 19 cents a share, which is nearly double what it reported in the second quarter of 2011.

The Norwalk, Conn., company went public in July, raising $100 million. Shares sold for $26 apiece, and immediately traded higher to close at $33.18 on the first day. In after-hours trading today, the stock was trading $2.12 lower, or 6.9 percent, to $28.68 a share. In regular trading, shares had soared by 11 percent to close at $30.80.

The company did not provide any guidance for the third quarter.

Other highlights from the period:

  • Total Queries: Kayak processed 304 million queries, a 33 percent year-over-year increase.
  • RPM: Revenue per thousand queries was $253, a 2 percent year-over-year increase from $248 in the second quarter of 2011.
  • Mobile: Kayak processed 57 million queries through its mobile applications, a 95 percent year-over-year increase. Mobile RPM, at $46, increased 42 percent year over year from $33 in the second quarter of 2011.

Latest Video

View all videos »

Search »

I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik