Shopzilla's Q2 operating revenues jump 113%

23 Aug '05

2 min read

Shopping search engine Shopzilla announced second quarter revenues more than doubled and profitability increased nearly four-fold compared to the same period last year.

The company's operating revenues for the second quarter 2005 jumped 113 percent year over year to $29.5 million Earnings before interest, taxes, depreciation and amortization (EBITDA) was $7.6 million compared with $2.0 million in the year-ago period.

Shopzilla is now the largest, most profitable and fastest growing of all comparison shopping sites which publicly disclose their financial results.

"We've been growing sequentially, quarter-over-quarter, since the holidays and are powering through what has traditionally been our slow summer months," said Chuck Davis, president of Shopzilla. "In a seasonal business like shopping, which normally skews heavily to the fourth quarter, this trend is quite exciting and evidence of the leverage in our model as comparison shopping goes mainstream and Shopzilla pulls ahead of the pack."

Second quarter 2005 results represent a sequential increase in revenues from first quarter 2005 results of $26.9 million, which in turn were higher than $25.1 million the company recorded in the fourth quarter of last year.

"Consumers are increasingly finding Shopzilla is the smarter way to find and buy anything for sale on the Internet, quickly and at the best price. Merchants, in turn, are benefiting from the growing number of qualified leads that we're sending them," said Farhad Mohit, chief product officer for Shopzilla. "We hope these trends continue as we roll out additional technology and product improvements in the months and years ahead. We're still in the early innings for shopping search and we have a lot of enhancements to make."

More Apparel/Garments News - United States Of America...