GOOD news all round as major travel companies report buoyant results for their second quarter. Here’s a wrap of the latest earnings from Phocuswire over the past week.
Airbnb achieves most profitable Q2 in history
Airbnb says its financial results for the second quarter of this year prove the company “has achieved growth and profitability at scale.”
This was the company’s most profitable Q2 in its history – with income of $379 million, nearly a $700 million improvement from Q2 of 2019.
Revenue in the quarter was $2.1 billion, up 58% compared to the same period a year earlier and up 73% compared to Q2 of 2019.
The company attributes the revenue growth to both growth in “Nights and Experiences booked,” and strong daily rates.
Nights and Experiences booked, representing the sum of the total number of nights booked for stays and seats booked for experiences, net of cancellations and alterations, was nearly 104 million, up 25% year-over-year. Airbnb says this growth was driven by bookings in North America, EMEA and Latin America.
Gross booking value, the dollar value of all of those bookings, was $17 billion, up 27% year-over-year.
Full article here
Booking Holdings sees near-doubling of revenues
Booking Holdings is continuing its recovery from the pandemic, with room nights booked surpassing 2019 levels and revenues nearly doubling year-on-year in the second quarter of 2022.
For Q2 2022, revenues were $4.3 billion, a 99% increase from the same period last year. Gross travel bookings were $34.5 billion, a 57% increase from Q2 2021.
Net income for Q2 2022 was $857 million compared with a net loss of $167 million year-on-year, while adjusted EBITDA was $1.1 billion compared with an adjusted EBITDA of $48 million.
Operating expenses totaled $3.3 billion, with marketing expenses accounting for $1.7 billion compared to $988 million year-on-year.
“We reached another milestone in our company’s recovery from the impact of the pandemic with room nights for the second quarter surpassing 2019 levels for the first time. We continued to see very strong accommodation ADR growth, which helped drive a 38% increase in gross bookings, or a 48% increase on a constant currency basis, in the second quarter versus the second quarter of 2019,” says Booking Holdings CEO Glenn Fogel.
Full article here
Sabre gets global boost as recovery continues
Sabre is reporting revenue of $658 million for the second quarter of 2022, driven in part by an increase in global air, hotel and other travel bookings.
In its Q2 2022 earnings statement, the travel technology company reports favorable rate impacts in its Travel Solutions business also contributed to the 57% year-on-year revenue increase.
Air bookings recovery accelerated in key global regions each month during the quarter ending June 30, 2022, while corporate and international travel continued to rebound, driving improved mix and higher-than-expected revenue per booking.
Sabre’s net loss for the quarter was $193 million. Operating loss was $70 million, compared to an operating loss of $180 million in Q2 2021.
“In the quarter we experienced solid improvements in each of our volume metrics. Specifically, we saw sequential volume improvements in air bookings each month during the second quarter, across all key global regions. The strong booking fee increase was driven in part by improvements in long-haul international and business travel,” says Sabre chair of the board and CEO Sean Menke.
Full article here
Uber doubles revenues to $8.1b
Uber more than doubled its revenue in the second quarter of 2022, notching $8.1 billion, a 105% increase from the same period in 2021.
Its net loss for the quarter ending June 30, 2022, was $2.6 billion, which included a $1.7 billion pre-tax net headwind related to revaluations of Uber’s stakes in Aurora, Zomato and Grab.
Gross bookings for Q2 2022 grew 33% year-on-year to $29.1 billion – an all-time high – with mobility gross bookings jumping 55% to $13.4 billion. Uber’s delivery business, which helped carry the ride-share giant through the pandemic, comparatively grew 7% year-on-year to $13.9 billion.
Meanwhile its delivery business brought in revenue of $2.7 billion, up 37% year-on-year and 7% quarter-on-quarter.
Trips on the Uber platform grew 24% year-on-year to 1.87 billion, or approximately 21 million trips per day on average. Monthly active platform consumers grew 21% year-on-year in Q2 2022 to 122 million.
Uber was also cash-flow positive for the first time, generating free cash flow of $382 for the second quarter of 2022.
Full article here
North America helps deliver solid quarter for Amadeus
Amadeus has revealed another solid quarter with revenue hitting €1.18 billion for the three months ending June 30.
The revenue figure for the Madrid-based global distribution company was up 18 percentage points on the previous quarter and represented about 83% of Q2 2019 revenue.
Luis Maroto, president and CEO of Amadeus, says the company saw improvement in travel agency bookings and passengers boarded particularly in North America.
He adds that the company also “came closer to pre-pandemic levels” in hospitality driven by increased volumes and new customers.
Revenue in air distribution for Q2 was €592 million, and the company says bookings for the quarter were 75% of those in Q2 2019.
Air IT solutions reported revenue of €402 million with passengers boarded hitting almost 78% of Q2 2019 levels.
The hospitality and other solutions business unit reported revenue of €189 million, which represent about 94% of Q2 2019 levels.
Full article here
