Stock Track | Global Business Travel Group Surges on Earnings Beat and Raised Cash Flow Guidance

Stock Track08-06

Shares of Global Business Travel Group, Inc. (NYSE: GBTG) surged as much as 7.46% in intraday trading on Tuesday after the company reported better-than-expected earnings for the second quarter of 2024 and raised its full-year free cash flow guidance.

The travel management services provider reported GAAP earnings per share of $0.06 for the quarter, beating analysts' estimates of a loss of $0.03 per share by $0.09. However, revenue of $625 million fell short of expectations, missing the consensus estimate of $631.9 million by $6.89 million.

Despite the revenue miss, Global Business Travel Group raised its full-year 2024 free cash flow guidance to over $130 million, up from its previous guidance of over $100 million. The company also reiterated its full-year 2024 revenue and adjusted EBITDA guidance.

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