Core Viewpoint - StubHub's stock experienced a significant decline of 24% following the company's decision to withhold financial guidance for the current quarter, emphasizing a long-term focus instead [1][2]. Financial Performance - StubHub reported stronger-than-expected third-quarter results, with revenue increasing by 8% year over year to $468.1 million, surpassing the average analyst estimate of $452 million [3]. - Gross merchandise sales rose by 11% year over year to $2.43 billion, exceeding Wall Street's expectation of $2.36 billion [3]. Management Commentary - CEO Eric Baker highlighted that the timing of ticket sales can vary from quarter to quarter, complicating predictions of consumer demand [1]. - Baker stated that demand for live events remains "phenomenal" and indicated that the company plans to provide an outlook for 2026 during the fourth-quarter results announcement [2]. Analyst Reaction - Wedbush analysts expressed surprise at the lack of forward guidance from StubHub executives, noting that this decision could pressure shares and raise investor concerns about near-term visibility [2].
StubHub stock plummets 24% after company withholds fourth-quarter guidance