Sabre tops forecasts, on pace for results

Sabre tops forecasts, on pace for results

Sabre Corp has reported a first quarter net income of US$208.2 million, despite losses in the same period year-on-year.

The US-based GDS posted a higher than expected US$710.3 million revenue, up 7% from 2014 figures. EBITDA also increased 15% to US$244 million. The company’s chief executive, Tom Klein said the results put the company “on pace” with full year projections

Klein said he expects full-year revenue earnings to be in the range of US$2 million to US$770 million.

Sabre’s net income came in at US$0.75 per share, with earnings, adjusted for one-time gains and costs at US$0.27 per share, 2 cents higher than analysts’ predictions.

Klein said its airline and hospitality solutions business delivered a 16% increase in revenue and scale benefits from its technology platforms drove a 34% adjusted EBITDA growth.

Global bookings growth in its Travel Network contributed to a 3% revenue increase, and 8% growth in adjusted EBITDA.

Sabre shares have increased 25% since January.

Image credit: skift

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