StubHub falls after earnings miss, sales beat

StubHub has plummeted in premarket trading after reporting earnings results last night that missed Wall Street estimates, with shares down 20% at 4:50 a.m. ET.

The company reported a loss per share of $4.27, compared to the $2.87 loss analysts polled by FactSet were expecting. StubHub said the steeper-than-expected losses were in part related to costs from its recent initial public offering. Still, the company reported $468 million in sales, more than the $452 million analysts were penciling in.

StubHub’s larger competitor, Live Nation, also reported earnings earlier this month that missed the Street’s estimates.

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