HomeAway posts 2Q loss on preferred dividends

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AUSTIN, Texas (AP) ? Vacation rental website operator HomeAway Inc. said Wednesday it posted a second-quarter loss, reversing a profit from a year ago, as dividends for preferred stockholders and the lack of a tax windfall cut into earnings.

The net loss for the three months through June 30 came to $6.7 million, or 17 cents per share, reversing a profit of $3.2 million, or 8 cents per share, a year earlier. The previous year’s quarterly results were boosted by a one-time tax benefit of $13.4 million.

Revenue grew 41 percent to $58.7 million from $41.6 million.

HomeAway just completed its initial public offering of 9.2 million shares on July 5 at a price of $27 each. Shares fell 77 cents, or 1.8 percent, to $42 in after-hours trading, after closing down 16 cents at $42.77 in the regular session.

The company said it expected third-quarter revenue of $57 million to $58 million and adjusted earnings before interest, taxes, depreciation and amortization of $16 million to $17 million.

For the full year, it expects $224 million to $226 million in revenue and adjusted earnings of $62 million to $63 million.