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. 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. Sabre management said in prepared remarks that the company's increase in revenue for the quarter "was driven by an increase in global air, hotel, and other travel bookings due to continued recovery from the COVID-19 pandemic."