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Why Sabre Stock Got Crushed Today

TheMotleyFool

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Shares of Sabre (NASDAQ: SABR) have gotten crushed today, down by 13% as of 12:30 p.m. EDT, after the company reported first-quarter earnings. The results fell well short of expectations.

Revenue in the first quarter got cut in half to $327 million, significantly below the $410.6 million in sales that analysts were expecting. That resulted in a net loss of $266 million, or $0.84 per share, while the consensus estimate had called for just $0.55 per share in red ink. The company, which provides software and technology to the travel industry, continues to see its business battered by the ongoing COVID-19 pandemic.

Image source: Getty Images.

Source Fool.com

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