=Sabre (SABR) reported earnings on Tue 7 Feb 2017 (b/o)

Sabre misses by $0.04, reports revs in-line; guides FY17 EPS and revenue below consensus; announces $500 mln buyback :

• Reports Q4 (Dec) earnings of $0.27 per share, excluding non-recurring items, $0.04 worse than the Capital IQ Consensus of $0.31; revenues rose 9.4% year/year to $829.6 mln vs the $828.45 mln Capital IQ Consensus.
• Co issues downside guidance for FY17, sees EPS of $1.31-1.45, excluding non-recurring items, vs. $1.60 Capital IQ Consensus Estimate; sees FY17 revs of +5-7% to ~$3.54-3.62 bln vs. $3.62 bln Capital IQ Consensus Estimate. 
• "In 2017, we expect continued growth in our businesses. Total revenue is forecasted to increase from 5% to 7%, with balanced growth across our business units, reflecting continued strong growth in Travel Network and Hospitality Solutions, and more modest growth in Airline Solutions," said Rick Simonson, Sabre executive vice president and chief financial officer. "We will make investments in our IT infrastructure this year to modernize, drive efficiency in development and ongoing technology costs, further enhance the stability and security of our network and accelerate our shift to open source and cloud-based solutions. The costs associated with these investments will be felt in both our corporate-level product and technology operating expenses, as well as our capital expenditures. While we expect growth in cash provided by operating activities, these investments will dampen 2017 adjusted profit and Free Cash Flow, as we set the stage for greater efficiency and sustainable growth in the future."
• Sabre also announced the approval of a multi-year share repurchase program to purchase up to $500 million of Sabre's common stock.