Eventbrite crashes 25% after giving weak revenue guidance

Brendan McDermid | Reuters

Eventbrite CEO Julia Hartz speaks during an interview with CNBC following the company’s IPO at the New York Stock Exchange (NYSE), September 20, 2018. 

Eventbrite shares plummeted after the company issued first-quarter revenue outlook well below Wall Street projections.

The company said it sees first-quarter revenue between $80 million and $84 million. That’s far short of the $91 million analysts polled by Refinitiv had forecast.

The stock fell as much as 25 percent in after-hours trade. It was last seen slightly off those lows but still about 20 percent below its closing price.

For the fourth quarter, Eventbrite reported a larger-than-expected loss per share, but revenue topped expectations. Here’s how the company did compared with Wall Street expectations:

  • Loss per share: 17 cents, vs. 14 cents forecast by Refinitiv
  • Revenue: $75.9 million, vs. $73.2 million forecast by Refinitiv

In the year-ago quarter, Eventbrite posted a loss of 89 cents per share on $62.7 million in revenue.

As of their Thursday close, shares of Eventbrite were up more than 16 percent since the beginning of the year.

The company went public in September, opening at $36 per share. On Thursday, Eventbrite shares closed at $32.42, but were seen trading below $26 in extended trading.

This story is developing. Please check back for updates.

Be the first to comment

Leave a Reply

Your email address will not be published.