Sabre: 2Q Earnings Snapshot
SOUTHLAKE, Texas (AP) _ Sabre Corp. (SABR) on Tuesday reported second-quarter net income of $92.2 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Southlake, Texas-based company said it had net income of 33 cents. Earnings, adjusted for one-time gains and costs, were 37 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The provider of technology services to the travel industry posted revenue of $984.4 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $946.8 million.
Sabre expects full-year earnings in the range of $1.39 to $1.53 per share, with revenue in the range of $3.76 billion to $3.84 billion.
Sabre shares have climbed 27 percent since the beginning of the year. The stock has risen 19 percent in the last 12 months.