Ticket reseller StubHub’s billboard on display at the New York Stock Exchange in preparation for the company’s IPO on September 17, 2025.
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stub hub Shares plunged 20% in after-hours trading Thursday after the company reported its first quarterly results since its initial public offering in September.
Here’s how ticket sellers behaved compared to the LSEG consensus:
Loss per share: $4.27 Revenue: $468.1 million vs. expected $452 million
StubHub CEO and founder Eric Baker said on a conference call with investors that the company would not provide guidance for the current quarter.
Baker said the company is taking a “long-term approach,” adding that it is difficult to predict consumer demand because the timing of ticket sales can fluctuate. StubHub plans to provide its 2026 outlook when it reports fourth-quarter results, he said.
“The demand for live events is phenomenal,” Baker said. “We don’t see any change in consumer demand.”
The company said second-quarter sales rose 8% from $433.8 million in the same period last year.
StubHub reported a net loss of $1.33 billion, or a loss of $4.27 per share. This compared with a net loss of $45.9 million, or a loss of 15 cents per share, in the year-ago period. StubHub said this reflects one-time stock compensation expense of $1.4 billion associated with the IPO.
Total merchandise sales, which represent the total amount paid by ticket buyers, increased 11% year over year to $2.43 billion.
The company faced tough comparisons from the previous year, when its results were boosted by Taylor Swift’s hugely popular Elas Tour. Excluding that impact, StubHub said GMS grew 24% year over year.
Founded in 2000, StubHub makes money primarily by connecting buyers and ticket resellers. compete with vivid seatwent public through a special acquisition vehicle in 2021. Seat Geek; and Ticketmaster parent live nation entertainment.
“We are building a truly differentiated consumer product that improves the fan experience while improving economics for venues, teams and artists through open distribution,” Baker said in a statement. “While we are in the early stages of that journey, the progress we have made to date gives us great confidence in our strategy and the long-term value we are creating.”
After twice delaying its debut, StubHub raised $800 million in its highly anticipated IPO on the New York Stock Exchange. The most recent stall occurred in April, after President Donald Trump’s sweeping tariff announcements roiled markets. The company filed an updated prospectus in August, restarting the process to go public.
The company’s stock closed at $18.82 on Thursday. The stock is currently down about 20% from its IPO price of $23.50.
