StubHub Aktie News

Shares of ticket reseller StubHub (STUB) plunged Friday after the company declined to provide guidance for the current quarter with its first earnings report as a public company.

Major U.S. equities indexes were mixed Friday afternoon, following a sharp decline Thursday fueled by a selloff of tech stocks. The Dow Jones Industrial Average was down 0.3%, while the S&P 500 was up 0.5%, and the Nasdaq climbed 0.8%.

Stubhub shares plunged more than 28% Friday after the New York-based ticketing marketplace reported a $1.3 billion net loss and declined to issue guidance for the quarter, rattling investors despite year-over-year revenue growth.

Shares of ticket reseller StubHub (STUB) plunged Friday after the company declined to provide guidance for the current quarter with its first earnings report as a public company.

StubHub shares plunged on Friday after the company declined to provide a financial forecast for the current quarter. The company said it was taking a "long-term approach," and added that shifting event timing made it hard to predict consumer demand.

StubHub (NYSE:STUB) shares plummeted more than 23% pre-market after the company missed Wall Street's earnings expectations for the third quarter and declined to issue fourth quarter guidance, overshadowing a solid revenue beat for the period. The ticketing marketplace reported Q3 revenue of $468.1 million, ahead of analysts' estimates of $452 million and up 8% from $433.8 million a year earlier.

The futures are trading lower to close out the week after a dreadful day on Wall Street on Thursday, during which all the major indices were hammered.

StubHub beat Wall Street's expectations for second-quarter revenue in its first earnings report as a public company. The company posted a net loss of $1.33 billion, reflecting a one-time stock-based compensation charge.