Why Sabre Stock Was Soaring on Tuesday
Travel industry software specialist Sabre (NASDAQ: SABR) unveiled its latest quarterly results on Tuesday morning. The company's stock vaulted skyward -- by nearly 22% as of mid-afternoon trading -- thanks to a top-line figure that beat analyst expectations, and some optimistic pronouncements by management.
For its fourth quarter, Sabre booked almost $501 million in revenue, which was a sturdy 60% higher on a year-over-year basis. The travel sector mainstay also managed to narrow its non-GAAP (adjusted) net loss, which came in at nearly $152 million ($0.47 per share) against the Q4 2020 shortfall of $253 million.
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Source Fool.com
