HomeAway announced its earnings on Thursday along with a company reorganization.
The Austin-based vacation rental company reported a net loss of $2.1 million or two cents per share for the first quarter of 2015, compared to profit of $4.4 million or 5 cents per share for the same quarter a year ago. The company blamed the loss on a $3.6 million tax expense.
HomeAway, which just celebrated its 10th anniversary in February, also reported a nearly 13 percent increase in revenue to $119 million in the first quarter, compared to $105 million for the same quarter in 2014.
HomeAway’s stock, traded under the symbol “AWAY” on the Nasdaq exchange, is down almost 14 percent on Friday. It is currently trading at around $27.75 a share.
HomeAway also announced its President and Chief Operating Officer Brent Bellm plans to resign in June to pursue other opportunities. HomeAway Co-founder and Chief Executive Officer Brian Sharples will resume the role of president.
In addition, Chief Product Officer Tom Hale will become the Chief Operating Officer of HomeAway. And Senior Vice President of the Americas Jon Gray becomes the company’s Chief Revenue Officer, Jeff Hurst becomes the company’s Chief Strategy Officer and Senior Vice President of Global Customer Experience Jeff Mosler becomes Chief Service Officer.
And Carl Shepherd, Co-founder of HomeAway and Chief Strategy and Development Officer, plans to retire in the second half of the year. He will remain on HomeAway’s board.