Sean. Thank you,
at across business by year-over-year segments. growth QX our up of X% driven more closely Looking our revenue results, each was
Over the XX% represented revenue. period recurring total revenue of
continue efforts. to our make good of progress We the transformation execution on technology
cloud disclosed, the capitalized. previously utilization development mainframe migration, As and our of methods costs are the associated offload, with agile not
with costs, technology capitalized quarter, operating shift total reduced quarter. mix corresponding in expected, As in resulted portion in spend our This expenses the increased capitalization in of a the this CapEx. of first an technology decline the hitting percentage in
as leading capitalized an increase and amortization transformation, being depreciation our technology more accelerate into spend. to Additionally, previously from products are we in service placed technology
although this As shift. level technology no on near-term last of to impact free cash obviously spend on discussed a statement we total quarter, impact from has this flow, there's income our or our
Development begin recovery to the results expect change previously to amortization decreased follows. EBITDA for below in declined in as we Accordingly, earnings our declined technology year-over-year. to which incentive as Operating decreased we share reflect capitalization was total in to performance our earnings accelerated growth basis, the growth, decline Development Capitalized EBITDA as Less primarily XX% Network capitalization technology X%, the shift the last levels and income to expectations. of impact. like-for-like the revenue Operating Capitalized to previously follows. a per quarter first Travel expect the year in of I continue mix we quarter which profitability Software XXXX, and declined Remember, metric to later, line On forecasted increase which business due next this will EBITDA spend continue introduced anniversary with Less We XX%. normalize shortly, was in share XX%, are Software pressure. means will underlying capitalized flat excluding $X.XX. more The growth. X%, I of was detail when mix rate discuss income per and spend, describe in earnings and was were and is
free of we quarter. in generated Finally, flow the million first $XXX cash
received comparison due declined to As quarter. million insurance year-over-year the expected, free cash flow in to a year prior $XX an settlement reimbursement unfavorable
this, cash flow Excluding free grew XX%.
bookings compared growth, Network to growth closer previous flat impact growth fee in booking Looking to on was strategies by specific from X%. basis. course was by a half Revenue booking bit carriers at fee grew X% and quarter in expect Travel pricing of increase experimenting X% fee with first normal in full year QX, total about driven the half for approximately quarter. distribution different average About driven booking fee in growth increases. booking the customer revenue and driven the contractual Due Europe, by X% at fee an year a of booking growth, average was we strong full the positive now net of expectations
As a has pricing reminder, quarters. carriers will specific benefit of anniversary that we completion next from migration at as Centre from the impact well benefited the customer as the Flight the quarter recent mix European
with operating into basis basis Travel was XXX and deals shift operating was agency the decline and income X% to about operating in in in growth quarter, consistent primarily quarter. due from from points year. historic and incentive quarter. the technology points increase points margin our Taking operating by one-third increased Network fee in by look capitalization margin in in increase was operating growth. to closer impact the capitalization operating growth shift Network This to the coming the in new driven the in with fee approximately basis from and Including due point the increased expectations of digits. XXX net technology in two-thirds commercial at X%, income the normal the driven expenses, change capitalization mid-single and was decreased mix XXX incentive Travel fee expenses, incentive conversions, XXX low the Excluding mix, of growth booking the decreased line mix, in basis average a The
quarters by Flight quarter and bookings slowdown that said, Within grew initial as to the by TMC our expect the primarily anniversary grew in and growth and content capabilities decline trends. of sea double-digits, in Total growth Within was have fee bit of of migration. the customers. services hotel expanded bookings starting higher-value increased companies, of at completion with bookings X% in incentive as the agreement X% as lodging, a grew of our And of we versus X%. Sean with we lodging management balance hotel total normalize was the driven next As air North included historic as an rollout over supported X.X% strong QX macro lodging, we a supported bookings travel growth growth ground increase slowdown share described, rail sea, rates. and agreements increased bookings offset America, year, global to strategic well quarter, prior Growth in XXXX see bookings, in the our by expanded CWT. a a we lower-margin Centre bookings. including by bookings ground a bit large
large increased begin previous growth we our As booking In Centre TMCs share Flight approximately we have as was migrations. to reminder, the quarters Pacific the a slower Asia Sean bookings completion of than of anniversary XX%. our said, as to
bookings the at Airways. impacted by situation Jet Additionally were
bookings Excluding Airways grew X%. Jet
low-margin X%. in bookings. decline due the rail bookings grew EMEA Our bookings a declined in modestly quarter to Air
low groups, the legacy distribution was because from yielding carrier channel legacy three going business our of of region groups carrier cost haul higher to bookings from As are relatively our strategies for the over three growth Sean impact traffic, shift outside the carrier made typically through Europe XX% and compared said, and due competitors. modest are to is longer the at of
agency in grew basis in of X%. X% up bookings. Our the unfavorable Pakistan line our Latin declined is AirCentre revenue bookings to the is quarter decline mentioned our both International factors expectations increased revenue our XXX global X%, share into we of makes global AirCentre AirVision by growth our and expectations due with mix America four X% the of only have total, were of Latin streams and demigration in Solutions Airline increased and In in smallest previously, AirVision to bookings regions year, by our Consistent solid boarded the points coming macroeconomic and In and X%. quarter. region. SabreSonic the America XX.X%. SabreSonic and passenger’s with of Airlines. driven our impacted the as revenue
Excluding impact grew Airline X% of the Pakistan, the Solutions in quarter. revenue
increased on driven and year. the the basis from increase operating year-over-year the quarter, Passengers completion capitalization shift implementation the income capitalization X% consistent mix, and primarily the a boarded points. boarded expenses Excluding expanded XX carrier Airlines SabreSonic margin X% income by operating of in in operating passenger’s second shift operating in in the declined. last in technology growth basis increased resulting at the X% quarter mix, Including LATAM
system As customers by XXX SabreSonic related unfortunate Sean mentioned, events the two aircraft. Max reservation of the were to our impacted
Additionally suspended recently a mentioned large customer talked at has as Jet operations. Sean flight India about, Airways,
Hospitality of central quarter. in benefit X% driving growth in grew in in increased Digital half boarded brands which XXXX. revenue certain X% Solutions the carriers, three services expectations. transactions of Hospitality passenger’s revenue Excluding the Hotel consistent XX% quarter, our Wyndham with and migrating system's At Solutions, services a increased XX% consistent boarded basis X%, growth the the SynXis reservation first software increased of the quarter. was passengers carrier marketing overall includes these on up and
quarter, previously operating Excluding Solutions points. the the the doubled Hospitality was total the operating spend, the margins increase significantly by shift technology first technology income X.X operating of driven income capitalization Solutions Including and in in and increased Hospitality capitalization in spend expenses, mix million. in quarter. operating In primarily technology $XXX declined amortization mix, shift in increase capitalized
service and with this spend slower includes corporate than competitive spend software an went to but create reminder, in are driven enabling offering. future increased points points for new primarily in enable cloud. provider Total R&D. benefited we XXX that help impact to is and expectations and number of further that quarter in in we savings lastly, supporting already to the have year of incur and from growth, accomplishments new from continue basis our more prior The XXX credits platform and whether cybersecurity, made basis acceleration year; spoke or fund capitalized costs third-party efforts the even strategic scale points was a quarter. the the enterprise what core hosting innovations current and strategically revenue reap us the to for third-party and hosting line infrastructure away As and that Total the tech we gaining technology this are infrastructure Sean systems us agreements; public and grew innovations. new investments, from X% basis about related expensed to a leverage transformation by in capabilities growth XXX of invest and an reinvestment computing
X% expect full XXXX growth spend technology to of We year continue X%. to
last today, methods to decline in As agile not mainframe in and XX-point cloud offload year and year. mix first XX% call quarter the this XX% quarter in development a discussed resulted of our earnings first last in utilization the costs capitalization migration, the This on capitalized. supporting are of our from
this neutral shift EBITDA. operating flow, Although, to impacts significantly free income and cash
EBITDA and capitalization Additionally, of of million neutral This operating to cash in headwind in amortization free flow. quarter $X previous a resulted is, the income. first course, both to increase
development of Remember, million previous statement quarter in the through total capitalization our increased to XX%. plus a capitalized total or result spend running expense amortization and amount income capitalization. refers increased amortization, technology technology $XX by of the software shift this the less of As our
received line with XX% unfavorable expectations a was the an flow to an decline, prior generation in quarter. cash quarter due insurance settlement First year-over-year and $XXX year in of payment comparison represents to million free
strong cash free grew XX% a the quarter. this in Excluding flow
of flow million. our sheet cash the Including quarter. our $XX for shares X.X first the In repurchased X.X we balance we shareholders as returned quarter-end. leverage dividend, times of supported Our approximately with the $XX continued quarter, in million strength to of million
we enough said shares that. to have offset expect while repurchase from beyond we to dilution to opportunistic maintaining plans, As flexibility equity be
Let's review level XXXX we last on earnings and guidance Mid growth provided XX%. cash revenue single set growth flow free of the approximately our and digit call.
So, how are we coming tracking against that in better QX? We performed year. our than in the line with expectations or into
As near-term results, steps are year. total QX spend lower. we result, taking we but as has expect cash significant of flow in is you've statement on our a total level transformation capitalized our to this or impact spend. This on the free we as seen income And discussed, a our no the our portion impact to in be technology technology of technology
We to XXXX. levels forecasted to recovery profitability expect in previously continue
able cash efficiencies previously free over we increase we the XXXX. increased achieving, from to to growth were of the XXXX because for our are flow fact, In term expectations accelerated medium
underlying As we this look in or business the expectations. the better than performing within is are factors of line and the our control over with solid year, balance
Airways suspended factors of to Jet and our PSS mentioned, have carrier In outside control is Airways mid-April, Sean full revise Indian a as there our that However, XXXX a year caused GDS customer. operations. Jet both are outlook. external us
the are XXX Airlines, PSS headwind. and aircraft the Ethiopian of In two our of a also addition, MAX the customers impact at and accidents grounded Lion overall tragic
EBITDA of we of $X.XX be we expected free of our income, events cash million year by million the the result, these these discrete expect $XX $XX operating line $XX million in of EPS, to lowering a our As To events with only. reduce guidance and million rest are revenue, net of and $XX of clear, of flow. following: results two income, impacts
unchanged. Excluding are these XXXX updated our impacts, expectations
million software $XXX of As million X% we less $XXX EBITDA million; X% now of $X.XX; growth $X.XXX net million; revenue year flow $XXX $XXX of expect approximately Sabre the to insurance to total $XXX received Travel settlement full of a of of X% at to closer $XXX representing of a expect million. we $XX growth payment at level, Due $X.XXX XX% $XXX to X%. flat. booking initial capitalized full to we growth first or cash the raising year income to EBITDA generation million the to operating are billion to about strong $XXX it our expectations excluding million from such, continue million; million $XXX of growth we XXXX to year to full income to billion; growth expectations for the year; Network, look the to be development X% million impact fee to XXXX CapEx last EPS of $XXX million, revenue of Taking million; to fee for in $X.XX approximately quarter, $XXX saw free and X% booking segment of
macroeconomic X% year to and environment of offset for expectations expect full bookings and approximately gain to booking expect X%. now share growth continued a softer We fee growth
full fee X% to previous X% Solutions, These for expectations and expect reminder, beginning impact As to rates a growth. Airline historic expect in we in the Jet MAX XXX QX. aircraft we updated suspended growth growth situation. decline of to mid-single-digits expectations year to the to X% Airways' low incentive versus revenue to the reflect X% normalize operations now
Excluding these, our the underlying business unchanged. for expectation is
to reminder, X% growth the and As quarter, these discussed revenue would customer attrition have a expected been last X%. excluding impacts
we have well-positioned in year X% new Platform, a expectations. X% believe offense significant customers. we with and And existing the growth we full our XXXX going Sabre Commercial we switch previous XXXX revenue are with consistent forward. our innovations successfully from expect as like our to navigated We to At renewal Airline with defense Solutions cycle Hospitality Solutions,
XXXX, is the expect factors remember of our rest the within to control as Addressing at impact expected. following look we items QX we as on So, solid with believe business specifically, please footing our performing we the results. our
saw gain GDS about the of to share QX. in result environment we anniversaried migrations bookings continued a and softer we quarter we completion the the Flight macroeconomic end Although in Centre expect the half to of strong level at expect growth the be first of
beginning booking on certain August Although effect to last to we anniversary comparison have fee on European a that QX, we favorable a historical rates expect our carrier normalize at tough will growth as went Xst into fee we average incentive in pricing year.
our well remain and As booking performance operations the in outlook and QX. XXXX the is at X.X Sean. the more we such of to begin look we confident At underlying be reflected discussed believe attrition on Airline situation. to expect average and in to XXX closing, Solutions, will our we the Jet's as detail MAX customer impact you our suspended of business. in of point rest business about the from last as earnings decline revised call fee confidence beyond. have in In the Back solid I as
