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HomeAway, Inc. Reports Fourth Quarter And Full Year 2013 Financial Results

Stocks in this article: AWAY

2013 Total revenue of $346.5 million, up 23.6% year-over-year 2013 Adjusted EBITDA of $96.7 million, up 20.4% year-over-year 2013 ending paid listings of approximately 890,000, up 25.0% year-over-year; or 29.5% as adjusted Q4 2013 Adjusted Renewal Rate of 75.3%, up from 74.4% in Q4 2012 Completed acquisition of Stayz, Australia's leading vacation rental group

AUSTIN, Texas, Feb. 19, 2014 (GLOBE NEWSWIRE) -- HomeAway, Inc. (Nasdaq:AWAY), the world's leading online marketplace for the vacation rental industry, today reported its financial results for the fourth quarter and full year ended December 31, 2013.

Management Commentary

"As we look back on 2013, we're thrilled with HomeAway's accomplishments, all of which advanced our mission to make every vacation rental in the world available to every traveler in the world through our online marketplace," says Brian Sharples, chief executive officer of HomeAway. "In addition to achieving our financial objectives, we delivered against our goal to reignite listings growth, delivering nearly 30% adjusted growth in total listings, up significantly from 13% in the prior quarter. While this growth is largely fueled by robust and pent up demand for our new pay-per-booking offering as well as acquisitions, the health of our subscription business also remains strong, with our renewal rate improving one percentage point sequentially to 75%, as adjusted."

Mr. Sharples continued, "The fourth quarter also marked the advancement of several strategic initiatives including the roll-out of pay-per-booking, the ongoing advancement of our e-commerce platform, and the acquisition of Stayz, which solidifies our strong position in Asia Pacific. We're excited about our prospects in 2014, particularly as we begin to realize the impact from the progress made in 2013. Our approach to growth will remain measured, ensuring we make the necessary investments to support the ongoing expansion of our global marketplace."

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