StubHub Falls After Missing Profit Estimates Despite Record Sales
-10.07% to $7.68 from $8.54
What moved STUB
- StubHub reported a second-quarter loss versus analysts’ average estimate of 7 cents per share in profit, missing expectations despite World Cup-driven demand
- Revenue rose 33% year over year to $573.1 million, well above the $491.1 million Street forecast, while gross merchandise sales climbed 34% to $3.1 billion
- Adjusted EBITDA nearly doubled to $106 million even as the company missed on the bottom line
- Shares fell as much as 13%-20% following the results, after an earlier after-hours decline of more than 14%
Sources: Associated Press · Investing.com · CNBC