EB - Why Eventbrite Stock Jumped Today
Shares of Eventbrite (NYSE: EB) have jumped today, up by 20% as of 12:40 p.m. EST, after the company reported third-quarter earnings. The event tech specialist beat top-line expectations but missed on the bottom line.
Revenue in the third quarter jumped 11% to $82.1 million, which translated into a net loss of $30.2 million, or $0.36 per share. Analysts had expected the company to generate $77 million in sales and post a loss of $0.26 per share. Eventbrite's own revenue guidance for the third quarter had topped out at $78 million. The company said paid ticket volumes increased 13% to 26.9 million, thanks in part to Eventbrite's new self sign-on channel.
Image source: Eventbrite.