NEW YORK, NY / ACCESSWIRE / April 26, 2018 / Both Travelzoo and Six Flags Entertainment saw their shares rise on Wednesday after reporting impressive first quarter results. Six Flags' CEO Jim Reid-Anderson was on CNBC's Mad Money yesterday speaking to Jim Cramer who has been open about his fondness for the stock.
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Six Flags Entertainment Corporation
Travelzoo shares were jumping yesterday along with the stock's trading volume after the company reported first quarter earnings. The stock closed up a little over 27% on Wednesday with around 1.4 million shares traded compared to an average trading volume of just under 30,000 shares. The New York-based company reported a first quarter profit of $2.5 million. Net income was 20 cents while revenue was $30.9 million. Revenue saw a 4% jump YOY. The company's CEO Dr. Holger Bartel remarked, "Revenue growth accelerated in all three regions, leading to much stronger earnings. With the travel and tourism industry worldwide showing steady growth, we like to leverage Travelzoo's global reach and trusted brand to further improve earnings in future periods." Since the start of the year, shares of the global publisher of exclusive offers and experiences for members, have seen gains of over 50%.
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Six Flags Entertainment Corporation shares closed up 8.49% on about 3.8 million shares traded. The theme park operator saw big gains after reporting better than expected first quarter results. Revenue for the first quarter jumped 30% YOY to $129 million. This was a new record for the first quarter. The company saw a net loss of $62.3 million, or 74 cents a share for the period. While this may not seem impressive, it was still better than the loss of 80 cents a share that analysts had been waiting for. The company's CEO and Chairman, Jim Reid-Anderson, stated, "We are firing on all cylinders as we made excellent progress in the quarter against each of our five growth initiatives. With our record-high Active Pass Base, ongoing price increases across all ticket and culinary programs, growing dining pass penetration, new water park openings and new international licensing agreements, we are poised to deliver another record year of financial performance in 2018."
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