Shopzilla reports strong second quarter earnings
19 August 2005
Shopping search engine Shopzilla has announced that its second quarter operating revenues soared by 113 per cent to $29.5 million, compared to the same three months last year.
The comparison shopping site said in a statement that earnings over the three months to June 30th rose $7.6 million, up from $2 million in the same quarter of 2004 and 9.7 per cent from the first quarter.
"We’ve been growing sequentially, quarter over quarter, since the holidays and are powering through what has traditionally been our slow summer months," said Shopzilla president Chuck Davis."
Shopzilla claims that it is now the largest, most profitable and fastest growing of all comparison shopping sites that publicly disclose financial results. The company, acquired by media giant the EW Scripps Company on June 27th, will operate as a stand-alone business segment and currently has an index of more than 30 million products from more than 55,000 stores.
Farhad Mohit, chief product officer for Shopzilla, commented: "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.
"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."
The latest Shopzilla figures put it ahead of Shopping.com in terms of
revenue earned.
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