What happened 

Shares of Sabre (SABR 3.36%), 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.

As a result, the tech stock tumbled 19.8% as of 2:29 p.m. ET. 

So what 

Sabre reported revenue of $631.1 million in the fourth quarter, which was up 26% from the year-ago quarter but missed analysts' average estimate of $665.5 million. The company's bottom line didn't impress investors either. 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."

Sabre CEO Sean Menke said that 2022 was an important year for the company as it moves away from the pandemic. He added that he views the company as having a "leadership position as a core travel technology provider," saying that Sabre received key agreements with travel industry partners that will "position us well as the global recovery progresses."

One highlight from the quarter was the fact that Sabre's operating loss of $55 million was a significant improvement from its loss of $126 million in the year-ago quarter. The company attributed the change to increased revenue due to the travel rebound. 

Now what 

The company issued revenue guidance for the first quarter of $725 million. While that will be an increase of 24% compared to the year-ago quarter, it was lower than Wall Street's average estimate of $774.9 million for the quarter. 

Sabre's financial improvements in the quarter weren't enough to convince investors that the company is on the right track. And with investors worried that a potential recession could be around the corner, some may be concerned that the travel industry isn't out of the woods just yet.