Despegar.com, Corp. (NYSE: DESP) reported Q3 EPS of ($0.05), $0.03 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $132 million versus the consensus estimate of $123.21 million.

Commenting on the Company’s results, Damian Scokin, CEO stated, “With Gross Bookings increasing 26% on an FX neutral basis coupled with a 26% increase in package transactions we are encouraged by the performance we were able to deliver during 3Q19. The quarter’s results also reflect the success of our re-branding campaign launched in 2Q19 as we gained market share in what has remained a challenging environment in some of our key markets. Additionally, with the costs and near-term impacts associated with the re-branding campaign behind us, we are back on track reporting positive EBITDA.

As the leading OTA in Latin America we are the partner of choice and have recently signed commercial and co-branding agreements with best-in-class international companies that will both expand our potential customer base as well as provide more products for our customers.

Our business generated solid cash flow from operations and overall, we maintain a healthy financial position. To that end, we took steps to generate value for shareholders and repurchased $39.3 million of our outstanding shares in the quarter for a total of $42.2 million year to date. While we continue to review and prioritize our capital needs, we remain committed to making the required investments in our Company to help position us for long-term success.

Looking towards the next few months, we continue to monitor the macro environment in the region, and remain encouraged with the company´s market outperformance. Further ahead, we remain confident that our strategic investments and new partnerships are establishing a solid foundation and creating further differentiation to deliver profitable growth.”

For earnings history and earnings-related data on Despegar.com, Corp. (DESP) click here.