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HomeAway’s Q2 Income Nearly Doubles to Reach $5.5 Million

Jul 26, 2013 1:30 am

Skift Take

HomeAway rolled out pay-per-booking this quarter, but any boost to revenues would not be visible this early in the game. The world’s largest rental company expects the more flexible membership plan to further boost income for the rest of 2013.

— Samantha Shankman

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HomeAway Inc. (AWAY) reported that its second-quarter net income increased to $5.5 million, or $0.06 per share, from $2.9 million, or $0.03 per share, in the second quarter of 2012. Adjusted net income was $14.0 million, or $0.16 per share, compared to $9.5 million, or $0.11 per share, in the second quarter of 2012.

On average, 14 analysts polled by Thomson Reuters expected the company to report profit of $0.14 per share for the quarter. Analysts’ estimates typically exclude special items. Total revenue increased 20.9% to $86.6 million from $71.6 million in the second quarter of 2012. Analysts expected revenue of $85.72 million for the quarter.

The company expects its third-quarter total revenue to be in the range of $88.6 million to $89.6 million. Analysts expect the company to report third-quarter revenue of $87.84 million.

The company expects its full year 2013 total revenue to be in the range of $339.0 million to $341.0 million. Analysts expect the company to report full year revenue of $339.99 million.

For comments and feedback: contact editorial@rttnews.com. Published by HT Syndication with permission from RTT News. For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com

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