Travel Network revenue rose 1.5%, with bookings growth of 0.8%
Airline Solutions revenue decreased 0.6%
Hospitality Solutions revenue grew 7.0%
Net income attributable to common stockholders totaled $63.8 million and diluted net income attributable to common stockholders per share (EPS) totaled $0.23
Adjusted EPS totaled $0.27
Cash provided by operating activities totaled $166.7 million
Narrowed full-year 2019 guidance
SOUTHLAKE, Texas – October 31, 2019– Sabre Corporation ("Sabre" or the "Company") (NASDAQ: SABR) today announced financial results for the quarter ended September 30, 2019.
"Sabre continues to be a global retailing, distribution and fulfillment technology leader within the $1.7 trillion global travel marketplace. We are at the forefront of the industry's digital transformation. Our new management team is driving changes that are resonating with customers, and our technology solutions are gaining commercial momentum, winning new customers and increasing share-of-wallet with existing customers. I'm pleased to announce our third quarter results that demonstrate our continued solid execution and the strength of our business model and geographic and customer footprint," said Sean Menke, President and CEO. "Travel Network, our largest business segment, continues to prove its resiliency despite uncertain macro and geopolitical conditions. The third quarter marked the seventh consecutive quarter of strong gains in our GDS position. Our global share increased 100 basis points year-over-year to 39.6% in the third quarter. We grew bookings 6% in our home region of North America, the fastest-growing region for the overall GDS industry. And, for the first time in three years, our booking contribution margin expanded. In Airline Solutions, our focus over the past two years on product health and stability and securing renewals has allowed us to shift attention to new innovations and sales, and we announced a number of customer wins during the quarter for our retailing and operations solutions. Hospitality Solutions revenue growth remains solid, up 7% year-over-year in the third quarter.
The following information was filed by Sabre Corp (SABR) on Thursday, October 31, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Form Type: 10-Q Quarterly Report Accession Number: 0001597033-19-000121 Submitted to the SEC: Thu Oct 31 2019 12:53:43 PM EST Accepted by the SEC: Thu Oct 31 2019 Period: Monday, September 30, 2019 Industry: Computer Programming Data Processing