Sabre Corporation SABR reported better-than-expected results for the first quarter of 2024. The company reported an adjusted loss of 2 cents per share, narrower than the Zacks Consensus Estimate of a loss of 5 cents per share. Moreover, the figure was narrower than the year-ago quarter’s loss of 18 cents per share.
The year-over-year improvement in the bottom line reflects the benefits of increased revenues and cost-improvement implementations that lowered the company’s technology and SG&A expenses.
Sabre reported revenues of $782.9 million, surpassing the consensus mark of $751 million. The top line was 5.4% higher than $742.7 million in the year-ago period.
This year-over-year surge in the top line reflects a significant improvement in global air, hotel and other travel bookings. Additionally, the company’s Travel Solutions division benefited from favorable rates as international and corporate bookings continued to improve. The company also registered a higher average booking…