Vacasa Inc Reports Financial Results for Q2 2024
Intellectia.AI1970-01-01
Vacasa, Inc. Reports Financial Results for Q2 2024
Overview
Vacasa, Inc. reported its financial results for the fiscal quarter ended June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q2 2023 | QoQ Change | YoY Change | Consensus Estimates |
|---|---|---|---|---|---|
| Total Revenue | $254M | $245M | +3.7% | +3.7% | $249.8M |
| Earnings Per Share (EPS) | -$1.88 | -$1.80 | -4.4% | -4.4% | -$1.91 |
Interpretation : Vacasa reported total revenue of $254 million for Q2 2024, surpassing the consensus estimate of $249.8 million and showing a 3.7% increase year-over-year and quarter-over-quarter. However, the company's EPS was -$1.88, slightly better than the consensus estimate of -$1.91 but worse than the previous quarter’s EPS of -$1.80.
Revenue Performance by Segment
| Segment | Revenue | Previous Guidance |
|---|---|---|
| Rental Income | $130M | $125M |
| Property Management Fees | $124M | $120M |
Interpretation : Both the rental income and property management fees exceeded previous guidance, with rental income achieving $130 million, surpassing the forecasted $125 million, and property management fees reporting $124 million against the expected $120 million.
Stock Price Movement
Following the earnings release, Vacasa's stock price increased by 9.39%.
Summary
Vacasa's financial performance for Q2 2024 showed promising revenue growth exceeding both estimates and guidance, though the company continues to grapple with negative earnings. The stock market responded positively, as evidenced by a significant increase in the company's share price post-release.
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