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Eric Baker, co-founder and chief govt workplace of StubHub Holdings Inc., through the firm’s preliminary public providing (IPO) on the ground of the New York Inventory Trade (NYSE) in New York, US, on Wednesday, Sept. 17, 2025.
Michael Nagle | Bloomberg | Getty Pictures
StubHub shares plunged 20% in prolonged buying and selling on Thursday after the corporate reported quarterly outcomes for the primary time since its preliminary public providing in September.
Here is how the ticket vendor did as compared with LSEG consensus:
- Loss per share: $4.27
- Income: $468.1 million vs. $452 million anticipated
Throughout a convention name with buyers, StubHub CEO and founder Eric Baker mentioned the corporate would not present steerage for the present quarter.
Baker mentioned that the corporate takes “a long run method,” including that the timing of when tickets go on sale can range, making it onerous to foretell shopper demand. StubHub plans to supply outlook for 2026 when it stories fourth-quarter outcomes, he mentioned.
“The demand for dwell occasions is phenomenal,” Baker mentioned. “We do not see something with shopper demand that is any totally different.”
Income elevated 8% in its second quarter from $433.8 million a yr earlier, the corporate mentioned.
StubHub reported a web lack of $1.33 billion, or a lack of $4.27 per share, in comparison with a web lack of $45.9 million, or a lack of 15 cents per share, throughout the identical interval final yr. StubHub mentioned this displays a one-time stock-based compensation cost of $1.4 billion stemming from its IPO.
Gross merchandise gross sales, which signify the whole greenback worth paid by ticket patrons, rose 11% yr over yr to $2.43 billion.
The corporate confronted powerful comparisons from a yr earlier, when outcomes had been boosted by Taylor Swift’s massively widespread Eras Tour. Excluding that impression, StubHub mentioned GMS grew 24% yr over yr.
Based in 2000, StubHub primarily generates income from connecting patrons with ticket resellers. It competes with Vivid Seats, which was taken public by way of a particular goal acquisition firm in 2021; SeatGeek; and Ticketmaster dad or mum Dwell Nation Leisure.
“We’re constructing a very differentiated shopper product that improves the expertise for followers whereas unlocking higher economics for venues, groups, and artists by means of open distribution,” Baker mentioned in an announcement. “We’re early in that journey, however our progress up to now provides us nice confidence in our technique and the long-term worth we’re creating.”
StubHub raised $800 million in its long-awaited IPO on the New York Inventory Trade, which got here after it delayed its debut twice. The latest stall got here in April after President Donald Trump’s announcement of sweeping tariffs roiled markets. The corporate restarted the method to go public in August when it filed an up to date prospectus.
On Thursday, the corporate’s inventory closed at $18.82. Shares at the moment are down roughly 20% from the IPO value of $23.50.
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