Sabre announced financial results for the quarter ended June 30, 2018.
Highlights
* Travel Network revenue rose 13.2%, with bookings growth of 7.6%
* Airline Solutions revenue decreased 2.4%
* Hospitality Solutions revenue grew 10.4%
* Net income attributable to common stockholders increased to $92.2 million and operating income increased to $138.8 million
* Adjusted Operating Income decreased 0.3% to $172.0 million
* Cash provided by operating activities decreased 5.3% to $146.6 million
Travel Network
Second quarter 2018 highlights (versus prior year):
• Travel Network revenue increased 13.2% to $719.7 million.
• Global bookings increased 7.6% in the quarter, supported by an increase of 23.5% in Asia-Pacific that reflects the completion of the Flight Centre agency conversion and strong market growth. Bookings also increased 5.0% in North America, and 5.0% in EMEA. Latin American bookings declined 1.4%. Global air bookings share was 37.1%.
• Operating income increased 6.7% to $195.1 million, and operating income margin was 27.1%.
• Adjusted Operating Income increased 6.9% to $196.0 million, and Adjusted Operating Income Margin was 27.2%.
Airline Solutions
Second quarter 2018 highlights (versus prior year):
• Airline Solutions revenue decreased 2.4% to $204.8 million.
• The year-over-year impact of adopting ASC 606 drove a $7.2 million revenue reduction in the quarter.
• Operating income and Adjusted Operating Income decreased 35.3% to $22.8 million.
Hospitality Solutions
Second quarter 2018 highlights (versus prior year):
• Hospitality Solutions revenue increased 10.4% to $68.3 million.
• Central reservation system transactions totaled 22.6 million.
• Operating income and Adjusted Operating Income decreased 10.4% to $2.0 million.
Full-Year 2018 Guidance
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