Eventbrite

Eventbrite Stock Down 30% On Higher Than Expected Loss, Weak Revenue Projections [UPDATE]

292 0


(Hypebot) UPDATE: Eventbrite shares fell sharply Friday morning, after the company issued a first-quarter revenue outlook below Wall Street expectations. The independent ticketing company predicted first-quarter revenue of $80 million to $84 million, well short of the $91 million analysts polled had forecast.

Revenue topped expectations, but it was not enough. Per-share Q4 losses were 17 cents per share vs the 14 cents predicted by analysts polled by Refinitiv and reported by CNBC. Revenue was $75.9 million vs. a predicted $73.2 million.

For Q1, the company said it expects sales of $80 million to $84 million, while analysts polled by FactSet had hoped for $91.3 million.

Eventbrite stock was down as much as 31% on Friday morning, The price as of 10:15AM ET was down 29% to $29.03. The company debuted in the markets just last September, opening at $36 per share.

Expansion In Mexico

On Wednesday, the company announced the launch of a localized platform in Mexico.

Eventbrite has experienced strong organic growth in Mexico, powering nearly 60,000 events and processing more than 5.7 million tickets since the platform’s inception. With a localized platform, consumers will have the ability to order tickets online and then pay for them with cash at local OXXO convenience store – the first time Eventbrite has offered this functionality,

Related Post