Why Sabre Stock Nose-Dived Today
Shares of travel industry technology specialist Sabre (NASDAQ: SABR) fell by more than 11% on Tuesday. Although at first glance that was a surprise given that the company scored beats on both the top and bottom lines in its first quarter, investors found several items concerning and traded the stock down accordingly.
Now that we appear to be in a less threatening stage of the COVID-19 pandemic, the travel industry is roaring back to life. In unveiling its quarterly figures this morning, Sabre revealed that its revenue was just under $585 million for the period -- a year-over-year improvement of almost 80%. That was on the back of a 67% rise in total bookings.
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Source Fool.com
