Global Business Travel Group, Inc. ( (GBTG) ) has released its Q3 earnings. Here is a breakdown of the information Global Business Travel Group, Inc. presented to its investors.
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Global Business Travel Group, Inc., operating as American Express Global Business Travel, is a leading software and services company specializing in travel, expense, and meetings & events, offering comprehensive solutions through technology and personal expertise.
In its latest earnings report, Global Business Travel Group, Inc. announced strong financial results for the third quarter of 2024, highlighting a rise in total transaction value (TTV), revenue growth, and adjusted EBITDA. The company also revealed a substantial share buyback plan and raised its free cash flow guidance for the year.
Key financial metrics from the report include a 9% increase in TTV to $7.8 billion and a 5% revenue growth to $597 million. Adjusted EBITDA rose by 23% to $118 million, reflecting a significant margin expansion. The company also showcased strong customer retention with a 97% rate and a total new wins value of $3.0 billion over the last twelve months.
Additionally, the company completed an $8 million share buyback and announced a new authorization for up to $300 million. Free cash flow guidance for 2024 was raised to approximately $160 million, indicating confidence in its financial strategy.
Looking ahead, Global Business Travel Group, Inc. remains focused on executing its growth strategy and leveraging its strong financial position to enhance shareholder value and successfully integrate future acquisitions.
