Shares of Sabre Corp.
tumbled 10.7% in premarket trading Wednesday, after the provider of booking software to the travel industry said travel trends continued to recover, but still reported a wider-than-expected fourth-quarter loss and gave a downbeat first-quarter revenue outlook. The net loss narrowed to $165.4 million, or 50 cents a share, from a loss of $192.0 million, or 60 cents a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss of 36 cents was wider than the FactSet loss consensus of 29 cents. Revenue grew 26.1% to $631.2 million, but that missed the FactSet consensus of $666.6 million, as travel solutions revenue improved 27.4% to $574.5 million and hospitality solutions revenue increased 19.1% to $64.9 million. For the first quarter, the company expects revenue of approximately $725 million, which is below the current FactSet consensus of $775 million. The stock has soared 22.0% over the past three months through Tuesday, while the S&P 500
has gained 3.6%.
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