Boston, MA 02/21/2014 (wallstreetpr) – HomeAway, Inc. (NASDAQ:AWAY)’s stocks continued their home run on the back of solid performance in the fourth quarter and the full fiscal 2013. The shares gained more than 12% in trading on February 20, 2014.
The Strong Performance:
If we look at the full fiscal 2013, revenues increased by more than 23% over the previous year. The company declared revenues of $346.5 million for the period. Paid listings also grew by 25% on y-on-y basis to close at 890,000 at the end of the year. HomeAway, Inc. (NASDAQ:AWAY) reported a better renewal rate of 75% in the fourth quarter against 74% for the same period prior year. The surge in revenues indicated a robust demand for the pay-per-booking offerings. Among other notable news, it also completed the acquisition of Australia’s leading vacation rental group, Stayz.
New Offerings Stir Up The Market:
Apart from the healthy subscription business, the company also saw significant demand for its new offering mainly pay-per-booking services. The acquisitions also ensured an inorganic growth to the company’s revenues. The impact of these acquisitions will be fully felt in 2014 as HomeAway, Inc. (NASDAQ:AWAY) consolidates its business in the Asia-Pacific region.
There was a growth in Listing revenues by 23% to $294.7 million from $238.4 million in 2012. Even after adjusting for exchange price fluctuations, the company recorded a growth of almost 23%. Other revenues recorded an increase of 23% to 51.8 million as compared to $42 million in 2012. Free cash flows also increased by 9% to 93 million as compared to $85.3 million in 2012.
Key Business Metrics:
Apart from an improvement in the financial results, HomeAway, Inc. (NASDAQ:AWAY) also saw improvement in some key business metrics. Paid listings improved by 25% to 889,875 in the fourth quarter. The Average revenue per listing recorded an 8% increase to $377 against $349 during the fourth quarter of 2012, an increase of 13%.
