Around the Net
Kayak Sees Strong Q3, Postpones IPO
- TechCrunch, Friday, November 25, 2011 10:50 AM
Kayak posted $61.16 million in revenue for the third quarter ended September 30 -- up 28% from the same period last year. Yet despite the strong performance -- as AllThingsD first reported in September -- the travel search engine has at least temporarily put IPO.
Net income for the third quarter was $12.7 million -- up 44% from the same quarter in 2010, in which net income was $8.7 million, TechCrunch reports. Also of note, in the nine months ended September 30, 2011, Kayak processed 679 million user queries for travel information, which is up 45% over the nine months ended September 30, 2010, according to TechCrunch.
“It’s a good sign for Kayak that revenues and profits are increasing both yearly and quarter over quarter considering the intense competition the site faces in the online travel space,” TechCrunch writes. “Google just launched its flight bookings and search portal, which is powered by the recent acquisition of ITA Software.” The company also increased revenue slightly from the second quarter 2011, which came in at $56.7 million.
