StubHub Stock Drops 21% After Company Withholds Q4 Outlook

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StubHub’s stock fell by 21% on Friday after the company withheld its fourth-quarter guidance, citing “some shifts” in quarterly ticket sales.

After StubHub failed to disclose its financial guidance for the current financial quarter, the company’s stock plummeted by 21% before market close on Friday. StubHub CEO Eric Baker told investors on Thursday that the timing of when tickets go on sale shifts from quarter to quarter, making it difficult to predict consumer demand.

“This year, we are observing some shifts in the timing of these on-sales,” said CFO Connie James on Thursday’s conference call. “Several large tours that would typically go on sale in the fourth quarter occurred earlier in late September. It remains to be seen how this concert on-sale timing dynamic plays out in November and December.”

However, Baker reiterated that demand for live events is “phenomenal,” and that the company plans to offer an outlook for 2026 when it finally reports its fourth-quarter results. But investors were reportedly “surprised” by StubHub’s decision not to offer any guidance.

“The lack of forward guidance will pressure shares, with investor concern building around lack of visibility over the near-term,” wrote analysts in an investor note on Friday. Unfortunately, the lack of guidance overshadowed the company’s robust results in its first earnings report as a public company—higher than expected.

StubHub held its initial public offering (IPO) in September, raising $800 million, but the company had a lackluster start on the public markets. That’s especially evident when pitted against other companies that started life on the public market around the same time, such as online lender Klarna, software company Figma, and stablecoin issuer Circle.

StubHub’s stock has fallen nearly 37% from its $23.50 IPO price. The company’s third-quarter revenue grew 8% year-over-year to $468.1 million; average analyst estimates were at $452 million.

Meanwhile, gross merchandise sales—the total dollar value paid by consumers—jumped 11% year-over-year to $2.43 billion, surpassing analyst expectations of $2.36 billion. StubHub also posted a net loss of $1.33 billion, equivalent to $4.27 per share, due to onetime stock-based compensation charges stemming from its IPO.