HomeAway?s Q3 Revenue Up 37 Percent To $61M, Posts A Loss In Net Income

Newly public home rental service HomeAway is reporting third quarter earnings today, posting a 37 percent increase in revenue to $61.1 millon from $44.6 million in the third quarter of 2010. The company said revenue increase was attributed to a strength in renewal rates and increased revenue per listing from the prior year. Unfortunately, the company posted a loss this quarter of $4.1 million, or ($0.05) per diluted share compared to a net loss of ($0.11) per diluted share in the third quarter of 2010. HomeAway says this was the impact of cumulative preferred stock dividends and discount accretion of $6.8 million, or ($0.09) per share. As of September 30, 2011, the Company no longer has any preferred stock outstanding.

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