StubHub Stock Falls After Q3 Earnings: What To Know

Benzinga

StubHub shares sank after the company posted a wider-than-expected third-quarter loss. Despite rising gross merchandise sales and expanding market share, the newly public ticketing company reported a deeper per-share loss than analysts expected.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02StubHub shares fell after the company reported a wider-than-expected third-quarter loss per

00:07share, according to Benzinga.

00:09The online ticket seller reported a quarterly loss of $4.27 per share, missing the analyst

00:15estimate of a $3.08 loss.

00:18Gross merchandise sales reached $2.4 billion, up 11 percent year-over-year, and rose 24

00:24percent when excluding the Taylor Swift era's tour.

00:28CEO Eric Baker said the company expanded market share and strengthened its balance sheet in

00:32its first quarter as a public company.

00:35StubHub shares traded at $14.99 in extended hours, down 20.35 percent after the report.

00:42For all things money, visit Benzinga.com.

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