Travelport Worldwide (TVPT) Stock Gains on Earnings Beat
NEW YORK (TheStreet) -- Shares of Travelport Worldwide (TVPT) - Get Report were gaining 11.1% to $15.06 on Monday after the travel technology and services company beat analysts' estimates for earnings in the third quarter.
Travelport reported earnings of 25 cents a share for the third quarter, above analysts' estimates of 17 cents a share for the quarter. Revenue grew 5.9% year over year to $560 million for the quarter, above analysts' estimates of $558.03 million.
"Our financial performance during the quarter was driven by double-digit revenue growth across key geographies, particularly in Europe and Asia Pacific, benefiting from the increasing breadth of our Travel Commerce Platform," President and CEO Gordon Wilson said in a statement. "We continue to truly differentiate ourselves from the competition in four key areas where we have taken industry-leading positions."
Travelport tightened its full year 2015 revenue guidance to a range of $2.18 billion to $2.22 billion from its previous range of $2.16 billion to $2.24 billion for the year. Analysts expect Travelport to report revenue of $2.22 billion for the year.
About 2.6 million shares of Travelport were traded by 2:22 p.m. Monday, well above the company's average trading volume of about 781,000 shares a day.
TVPT data by YCharts