In section Market Quotes
StubHub reported third-quarter net income of $33.6 million and raised its full-year gross merchandise sales forecast, though its earnings and revenue both fell short of analysts’ expectations.
The ticket company earned 5 cents a share, compared with a loss of $1.29 billion, or $4.27 a share, in the same quarter a year earlier. Analysts surveyed by FactSet had expected earnings of 8 cents a share.
Revenue rose 7% to $502 million, below the FactSet estimate of $506.7 million. Gross merchandise sales increased 7% to $2.62 billion.
StubHub now expects full-year gross merchandise sales of $10.18 billion to $10.38 billion, up from its previous forecast of $10.1 billion to $10.3 billion. Chief Executive Eric Baker said the higher outlook reflects the third-quarter results and anticipated performance for the remainder of the year.
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