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HomeAway Reports Second Quarter Results

Austin-based HomeAway reported its second quarter results last night, in its first quarterly report since its IPO. The firm said it had revenues of $58.7M in the quarter, up 40.9 percent year to year. However, net income dropped to $2.2M compared to $14.9M in net income in second quarter of 2010, mostly due to a positive impact in 2010 of a deferred tax asset valuation allowance of $13.4M. HomeAway had its IPO last month.