Why Sabre Stock Dropped Today
Shares of Sabre (NASDAQ: SABR) have dropped today, down by 9% as of 3:10 p.m. EST, after the company reported fourth-quarter earnings. The travel tech specialist also announced strategic initiatives that it hopes will expand its addressable market.
Revenue in the fourth quarter came in at $941.4 million, which led to adjusted net income from continuing operations of $44 million, or $0.16 per share. That bottom line was right on target with analyst expectations. The travel technology company said it would invest an additional $150 million in 2020 to develop an advanced travel marketplace that Sabre expects to reduce costs while increasing its addressable market.
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Source Fool.com
