By Sabela OjeaVacasa Inc. on Tuesday reported higher-than-expected revenue for the fourth quarter. The vacation rental property management services provider reported a wider net loss of $302 million, or 70 cents a share, compared with a loss of $118.2 million, or 6 cents a share, for the same period a year earlier. Revenue rose 14% to $218 million, ahead of management's expectations of $195 million to $215 million. Cost of revenue was $116 million, or 53% of revenue, compared with $108 million, or 56% of revenue, a year earlier. The company ended the year with about 44,000 homes on its platform, up 19% from the prior year, it said.

Source: Wall Street Journal March 15, 2023 01:07 UTC