Why Sabre Stock Fell Hard Today
Shares of Sabre (NASDAQ: SABR), a travel technology company, were plunging today after the company reported worse-than-expected top- and bottom-line results that fell below Wall Street's expectations for the quarter.
As a result, the tech stock tumbled 19.8% as of 2:29 p.m. ET.
Sabre reported revenue of $631.1 million in the fourth quarter, which was up 26% from the year-ago quarter but missed analysts' average estimate of $665.5 million. The company's bottom line didn't impress investors either. Sabre's non-GAAP (adjusted) loss of $0.36 per share was better than the loss of $0.47 in the year-ago quarter but missed Wall Street's consensus estimate of a loss of $0.31.
Source Fool.com
