Amadeus: shares rebound in wake of good quarterly report
(CercleFinance.com) - Shares of Amadeus rebounded on Monday after the Spanish travel technology company posted quarterly results that were slightly better than expected, helped by market share gains.
For the first quarter, Amadeus achieved an adjusted profit of 305.6 million euros, up 4.3% compared to the same period last year, the group said last Friday.
Revenue grew 3.1% from January to March compared to the first quarter of 2017, reaching 1.23 billion euros.
Amadeus said its financial performance in the quarter was negatively impacted by the US dollar depreciation relative to the euro, but noted that underlying business performance continued to be "very strong".
Amadeus shares gained 0.6% on the Madrid Stock Exchange today after closing down 1.2% on Friday.
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