Sabre Earnings, Bookings Boosted By Abacus Acquisition

Sabre Corp.’s total bookings increased 27.9%, to 134.9 million, in the first quarter.

Excluding bookings made through Abacus International, which Sabre acquired in July, bookings were up 4.6%, driven by growth in all regions except Latin America.

Bookings increased 11.7 % in the EMEA region, despite being “tempered” by the terrorist attacks in Brussels in March, and 3.8% in North America.

They decreased 2.5% in Latin America, largely in Venezuela and Brazil. However, Sabre did gain share in the region.

Before the acquisition of Abacus, Sabre, which powered the Asian GDS, included its figures in its market share but not in its booking numbers.

Growth in North America was held back by the corporate market, particular the energy and financial sectors. Leisure travel, on the other hand, remained “solid,” said Rick Simonson, executive vice president and chief financial officer.

Sabre’s market share increased 1.7 points year over year, to 37.4%

Sabre reported net income of $114.65 million for the first quarter, an increase of 53% over first quarter 2015.

Revenue was up 21%, to $859.54 million.

Sabre Travel Network revenue was up 23.11%, to $ 625.48 million, of which $581.68 million was transaction revenue.