In its first earnings statement since an initial public offering in July, Kayak Software Corp. reported net income nearly doubled and revenue increased 36 percent in the company’s fiscal second quarter.
Second quarter profit was $7.3 million, or 19 cents per share, up from $3.8 million, or 10 cents per share, a year earlier.
“We’re off to a strong start as a public company, with record revenues,” said Steve Hafner, Kayak CEO, in a press release. “Our focus remains on ensuring that Kayak is the best place to plan and book travel globally.”
Kayak”™s total revenue increased 36 percent from last year to $76.9 million, just beating Wall Street forecasts of $75.3 million for the quarter.
Despite nearly doubling, profit fell short of analysts’ expectations of 24 cents per share, according to Thomson Reuters.
