Why StubHub Stock Tanked by 10% Today
StubHub beat revenue forecasts and raised guidance, but rising costs and a missed profit target sent the stock down more than 10%, analysts said.
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7 Articles
StubHub tanks 10% as World Cup ticket fiasco wipes out profit boom
StubHub shares tanked over 10% Thursday on its disastrous World Cup partnership, which erased its quarterly profit and left customers who bought tickets stranded outside stadiums – resulting in a frenzy of media coverage and litigation.
StubHub stocks decline amid growing lawsuits over unissued FIFA World Cup tickets
StubHub reported hundreds of millions in revenue last quarter, but faces significant financial adjustments after reselling FIFA World Cup tickets that had not yet been issued. The situation may impact future ticket sales and customer trust.
StubHub (STUB) Stock Drops As Profit Rebound Meets World Cup Doubts
StubHub Holdings stock dropped about 10% to US$7.68 in Thursday trading, which makes it look like the market hated this quarter. The headline story is more complicated. The ticketing marketplace just printed Q2 revenue of US$573.1m and net income of US$29.3m, with adjusted earnings before interest, tax, depreciation and amortization nearly doubling to about US$106m on an 18% margin. That mix of sharp share price fall and clear profitability impr…
StubHub stocks tumble as lawsuits pile up over unissued FIFA World Cup tickets
StubHub made hundreds of millions of dollars last quarter, but it is having to give a lot of that money back after reselling FIFA World Cup tickets that had yet to be issued. Facing lawsuits, the company is now reporting a net loss, and watching its shares drop dramatically. “It certainly feels like schadenfreude,” Carmi Levy, a technology analyst, told Global News. “In a way they kind of got what they deserved and I’m sure there are a lot of pe…
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