Orbitz Worldwide released its Q1 2010 results this morning. A summary is as follows:
- Gross bookings - $3,011,625 (up 24% from $2,428,687 y/y)
- Net revenue - $187,153 (down 1% from $188,393 y/y)
- Operating cash flow - $95,991 (down 18% from $116,721 y/y)
- Profit - $-5.3 million (down from $-336.2 million y/y)
Barney Harford, president and chief executive of Orbitz Worldwide, says:
“Orbitz Worldwide delivered strong Adjusted EBITDA growth of 12% in the first quarter. Transaction growth accelerated for the fourth consecutive quarter to 20% driven by consumer fee reductions and ongoing operational improvements.
“Room night growth remained solid at 13%, with particular strength coming from ebookers and Orbitz for Business, which grew stayed room nights 80% and 26% respectively.”