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KAYAK Reports Solid Online GrowthAugust 24, 2012 By: Newswire Travel Agent
Newly publicly owned KAYAK Software Corporation (Nasdaq: KYAK) reported its financial results for the second quarter ended June 30, 2012 including total revenue of $76.9 million, a 36 percent year-over-year increase from $56.8 million in the second quarter of 2011. Net income reported was $7.3 million, a 93 percent year-over-year increase from $3.8 million in the second quarter of 2011.
"We're off to a strong start as a public company, with record revenues and adjusted EBITDA," said Steve Hafner, KAYAK Chief Executive Officer and Cofounder. "Our focus remains on ensuring that KAYAK is the best place to plan and book travel globally."
KAYAK reported processing 304 million queries, a 33 percent year-over-year increase from 229 million in the second quarter of 2011. Queries refer to user requests for travel information processed through its websites and mobile applications, KYAK noted. Revenue per thousand queries, or RPM, was $253, a 2 percent year-over-year increase from $248 in the second quarter of 2011.
KAYAK also reported substantial gains in mobile bookings. This includes processing 57 million queries through our mobile applications, a 95 percent year-over-year increase from the second quarter of 2011. Revenue per thousand mobile queries, or mobile RPM of $46, increased 42 percent year-over-year from $33 in the second quarter of 2011.
Mobile RPM figures are KAYAK's best estimation of revenue per thousand mobile queries based on data provided by those travel partners that delineate between mobile and website travel bookings, KAYAK said.
KAYAK allows travelers to compare hundreds of travel sites at once when searching for flights, hotels, and rental cars, and gives travelers choices on where to book. The company says it processes over 100 million user queries each month and operates websites in 18 countries. KAYAK also offers a travel app with over 17 million downloads, available for free on iPhone, iPad, Android, Windows Mobile 7 and Nokia devices, the company reports.