How did GBTG's Q4 earnings surprise impact investor sentiment?

**GBTG's Q4 earnings surprise had a mixed impact on investor sentiment**:

1. **Revenue Surprise**: GBTG's revenue for Q4 exceeded expectations with a surprise of $7.12 million. This positive surprise likely contributed to investor optimism, as it indicated the company's performance was stronger than anticipated.

|code|Ticker|Name|Date|Revenue Surprise|EPS Surprise|Net Income|market_code|
|---|---|---|---|---|---|---|---|
|GBTG|GBTG.N|Global Business|2024 Q1|-1.428E7|-0.08|-1.9E7|169|
|GBTG|GBTG.N|Global Business|2024 Q2|-3850000|0.09|2.7E7|169|
|GBTG|GBTG.N|Global Business|2024 Q3|-1.653E7|-0.26|-1.28E8|169|
|GBTG|GBTG.N|Global Business|2024 Q4|7120000|-0.08|-1.4E7|169|

2. **Net Income Surprise**: The company reported a net loss of $14 million for the quarter, which was a negative surprise as it was not anticipated by investors. This surprise likely led to concerns among investors about the company's profitability and potential challenges it faces.

|code|Ticker|Name|Date|Total Revenue|Net Income|Diluted EPS|market_code|
|---|---|---|---|---|---|---|---|
|GBTG|GBTG.N|Global Business|2024 Q1|6.1E8|-1.9E7|-0.04|169|
|GBTG|GBTG.N|Global Business|2024 Q2|6.25E8|2.7E7|0.06|169|
|GBTG|GBTG.N|Global Business|2024 Q3|5.97E8|-1.28E8|-0.28|169|
|GBTG|GBTG.N|Global Business|2024 Q4|5.91E8|-1.4E7||169|

3. **Diluted EPS Surprise**: The diluted EPS surprise was -0.08, which suggests that the company's actual EPS was lower than expected. This would typically be viewed negatively by investors, as it indicates the company's profitability per share fell short of expectations.
4. **Overall Impact**: Despite the positive revenue surprise, the negative net income and EPS surprises could have overshadowed the revenue positive. Investors may have been more concerned about the company's profitability and the reasons behind the net loss. The market's reaction would depend on how these surprises are perceived in the context of the company's strategic direction, market conditions, and future growth prospects.

In summary, while the revenue surprise may have initially led to some positive sentiment, the net loss and EPS surprises likely contributed to a more cautious or negative sentiment among investors, depending on their assessment of the underlying reasons for the losses.