Southlake-based Sabre Corp. said its second quarter income doubled as the travel technology company completed new contracts with large customers including Expedia and American Express.
Net income rose 123 percent to $72.0 million and revenues grew 19.5 percent to $845.2 million as the company offered new, upgraded software solutions to its airline, hotel and travel agency customers.
“Our team is laser focused on advancing controlled, launching new and innovative products, staying far ahead of our competitors in areas like mobile and Cloud; taking care of our customers and finding new ones and ensuring that we have an advantageous cost structure,” Sabre chief executive Tom Klein told investors on a conference call on Tuesday.
Sabre’s earnings beat Wall Street analysts estimates by two cents per share, however, investors were disappointed that Sabre said it expects full-year revenue growth to be the lower end of its previous guidance. Sabre said it believes airline ticket bookings growth will slow as airlines have decreased capacity growth plans for the rest of the year.
Shares of Sabre [ticker: SABR] were down about 8 percent around 1 p.m., trading around $26.92.