HomeAway's 3rd-qtr profit rises 63 percent

Growth in new vacation rental listings contributes to 63 percent jump in HomeAway's 3Q profit

Associated Press

NEWS: Vacation rental website operator HomeAway Inc.'s third-quarter profit rose 63 percent, as revenue per rental and new listings increased. The company's results beat Wall Street's expectations.

DETAILS: Average revenue per listing rose 16 percent to $390. Paid listings at the end of the quarter rose 7 percent to about 773,000.

NUMBERS: The company reported net income of $8.5 million, or 10 cents per share, for the three months ended on Sept. 30. That compares with net income of $5.2 million, or 6 cents per share, in the prior-year quarter.

Adjusting to exclude one-time items, HomeAway earned 19 cents per share. Revenue rose 23 percent to $90.1 million.

Analysts polled by FactSet expected an adjusted profit of 16 cents per share on revenue of $89.3 million for the quarter.

FUTURE: HomeAway expects revenue of $85.5 million to $86.5 million in the current quarter, bracketing analyst expectations.

STOCK: Shares of the Austin, Texas company finished regular trading down 63 cents, or 2.1 percent, at $29.09. The stock added $2.71, or 9.3 percent, to $31.80 in extended trading.

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