Vacasa up on annual forecast raise, Q2 profit

Vacasa

11/08/2022 13:57

** Shares of vacation rental management platform Vacasa
 VCSA.O  up 25% at $3.80 before the bell
    ** Co raises annual revenue forecast to $1.17 bln-$1.19 bln
from its prior expectations of $1.13 bln- $1.18 bln following
strong demand in qtr  urn:newsml:reuters.com:*:nBw5gTHn3a
    ** Updated full-year 2022 revenue guidance is above
analysts' average estimate of $1.17 bln- Refinitiv IBES data
    ** Co sees FY adjusted EBITDA between negative $7 mln to 
break even vs previous guidance of negative $21 mln to negative
$14 mln
    ** Expects Q3 revenue between $385 mln and $395 mln vs
analysts' expectations of $389.82 mln
    ** Reports Q2 profit of $10 million, compared to a loss of
$20 million
    ** In addition, posts 31% rise in quarterly revenue to $310
million, beating estimates of $285.5 mln 
    ** As of last close, VCSA shares were down ~63.5% YTD

 (Reporting by Aatrayee Chatterjee in Bengaluru)
 ((aatrayee.chatterjee@thomsonreuters.com))