© Reuters. Sabre (SABR) shares tumble on weak guidance and revenue miss
SOUTHLAKE, Texas – Sabre Corporation (NASDAQ:), a leading software and technology provider for the travel industry, reported its fourth quarter financial results, revealing a revenue of $687 million, which fell short of the consensus estimate of $691.86 million.
Despite this miss, the reported revenue marks a 9% increase from the fourth quarter of 2022, showcasing a year-over-year (YoY) improvement. The company’s adjusted earnings per share (EPS) for the quarter came in at ($0.12), slightly better than the estimate of ($0.14).
The company’s stock plummeted by 27% following the announcement, indicating a strong negative market response. This decline is attributed to Sabre’s guidance for the first quarter of 2024 and the full year, which both trailed estimates.
For Q1 2024, Sabre anticipates revenue of approximately $750 million, below the consensus of $787.5 million. For the full year 2024, the company…