Sabre Corporation announced financial results for the quarter ended March 31, 2018.
Highlights
First quarter revenue increased 8.0%
Travel Network revenue rose 8.7%, with bookings growth of 5.7%
Airline Solutions revenue grew 6.7% Hospitality Solutions revenue grew 5.8%
Net income attributable to common stockholders increased 15.7% to USD 87.9 million and operating income increased 1.3% to USD 165.4 million
Adjusted Operating Income decreased 6.3% to USD 197.6 million
Cash provided by operating activities increased 58.6% to USD 195.2 million
Travel Network
First quarter 2018 Travel Network revenue increased 8.7% to USD 721.1 million.
Global bookings increased 5.7% in the quarter, supported by an increase of 19.7% in Asia-Pacific that reflects the first quarter completion of the Flight Centre agency conversion and strong market growth. Bookings also increased 3.0% in North America, 1.7% in EMEA and 0.5% in Latin America.
Operating income decreased 7.7% to USD 210.7 million.
Adjusted Operating Income decreased 7.5% to USD 211.8 million.
Airline Solutions
First quarter 2018 Airline Solutions revenue increased 6.7% to USD 206.6 million.
Operating income and Adjusted Operating Income increased 55.7% to USD 30.7 million.
Hospitality Solutions
First quarter 2018 Hospitality Solutions revenue increased 5.8% to USD 68.1 million.
Central reservation system transactions totaled 17.0 million.
Operating income and Adjusted Operating Income increased to USD 2.1 million versus a loss of USD 0.3 million in the year-ago period.
Full-Year 2018 Guidance
Read Original Report
