HomeAway shares gain as company boosts financial guidance

Feb 20, 2014
Austin Business Journal

Shares of vacation home rental lister HomeAway Inc. surged in after-hours trading Wednesday after the company reported its fourth-quarter financial results and boosted its revenue guidance for the first quarter and full year above analysts' estimates

After a basically regular trading session Wednesday, the shares shot up $3.54, or more than 8 percent, to $46.50 after the results were released

The Austin company reported a fourth-quarter loss of $1.8 million, or 2 cents per share, on revenue of $90.2 million compared with a profit of $4.5 million, or 5 cents per share, on revenue of $71.5 million during the same period in 2012

As for non-GAAP results, HomeAway posted net income of 8 cents per share for the quarter, missing analysts' estimates of 14 cents per share

For the full year, the Austin-based company posted a profit of $17.2 million on revenue of $346.4 million versus a profit of $14.9 million on revenue of $280.4 million in 2012, according to a Wednesday filing with the U.S. Securities and Exchange Commission

For the first quarter of 2014, the company predicted revenue of between $102.1 million and $103.3 million, compared to analysts' estimates of $98.8 million. Full-year revenue guidance also topped analysts' estimates

HomeAway (Nasdaq: AWAY) operates websites listing vacation home rentals. It employs about 1,443 workers, with 754 based in Austin

In December, the company disclosed plans to raise $195.3 million with its follow-on stock offering of 6.9 million shares for $37 apiece to finance general corporate operations, including acquisitions or license of, or investment in, products, services, technologies or other businesses, according to a company news release

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