Shares of Travelport Worldwide Ltd (NYSE:TVPT) ended Wednesday session in green amid volatile trading. The shares closed up +0.12 points or 0.85% at $14.22 with 473,689.00 shares getting traded. Post opening the session at $14.09, the shares hit an intraday low of $14.05 and an intraday high of $14.23 and the price vacillated in this range throughout the day. The company has a market cap of $1.79 billion and the numbers of outstanding shares have been calculated to be 123.92 million shares.
Travelport Worldwide Ltd (TVPT) on Aug. 4, 2016 announced its financial results for the second quarter ended June 30, 2016.
- Net revenue increased 9% to $606 million
- Operating income of $38 million and net loss of $14 million
- Air revenue increased 6% to $426 million with Beyond Air revenue growth of 22% to $148 million; the latter now contributing 26% of Travel Commerce Platform revenue (Q2 2015: 23%)
- eNett net revenue increased 85% to $38 million, with a strong contribution from global OTA customers
- Adjusted EBITDA increased 1% to $139 million. This includes a full provision of $11 million in relation to a travel agency in Europe that has initiated insolvency proceedings, which offset 9 percentage points of Adjusted EBITDA growth from the rest of the business
- Full year 2016 net revenue and Adjusted EBITDA guidance unchanged; raising full year 2016 Adjusted Net Income and Adjusted Free Cash Flow guidance following successful repricing of term loans in June
Gordon Wilson, President and CEO of Travelport, commented:
“Travelport’s performance this quarter was strong in both revenue and Adjusted EBITDA, which was up 9% year over year, before the impact of a full provision we have made relating to a long term contract with a travel agency. We continue to benefit from recent customer implementations and product innovations, driving revenue growth across our platform and in International regions where growth was 15%. We are excited about new business agreed with major travel agencies in key regions such as Expedia (Europe), Yatra.com (India), Travix (global) and Almundo.com (Latin America) which will support future growth.
Shares of Fossil Group Inc (NASDAQ:FOSL) ended Wednesday session in green amid volatile trading. The shares closed up +0.67 points or 2.40% at $28.63 with 782,836.00 shares getting traded. Post opening the session at $28.04, the shares hit an intraday low of $27.74 and an intraday high of $28.66 and the price vacillated in this range throughout the day. The company has a market cap of $1.37 billion and the numbers of outstanding shares have been calculated to be 48.13 million shares.
On Sept. 1, 2016 Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated (QCOM), and Fossil Group (FOSL) announced that the Qualcomm® Snapdragon™ Wear 2100 processor is powering the Fossil Q Marshal and Fossil Q Wander smartwatches. With announcement, Fossil becomes the first Fossil Group brand to ship smartwatches based on Qualcomm Technologies’ next generation Snapdragon Wear 2100 processor.
Fossil Q Marshal and Fossil Q Wander smartwatches deliver a truly unique and differentiated experience for the customer, taking full advantage of the Snapdragon Wear 2100 with a crisp “always awake” touch screen, extended battery life, always-on sensing, and seamless connectivity, all wrapped in a streamlined, fashion-forward design that customers desire.
“We’re investing in long-term wearables innovation due to increasing demand for smartwatches that fuse the latest in technology and connectivity into an attractive, expertly-designed wristwatch. Announcement is part of a broader plan to introduce more than 100 wearables this year,” said Greg McKelvey, chief strategy and chief digital officer, Fossil Group. “We envision a day when every watch we make will have some type of connectivity in it. By combining Fossil Group’s expertise in making beautiful, quality watches and Qualcomm Technologies’ highly integrated Snapdragon Wear processors, we are bringing the best of fashion and technology to our customers.”