Kayak’s First Public Quarter Returns Record Revenues

Published on August 22, 2012
by Tricia Duryee

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.

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