Eventbrite plunges over 20% after earnings miss and weak guidance (EB) | Markets Insider

plunged nearly 30% Friday morning after delivering disappointing fourth-quarter and fiscal-year 2019 results.Shares hit a low of $22.76 early Friday.Eventbrite missed Wall Street estimates for the fourth quarter, sending shares down nearly 30% and to their lowest level on record.

The company said it posted an adjusted loss of $0.17 a share, compared to the $0.11 loss that analysts were expecting, according to analysts surveyed by Bloomberg. Net revenue for the fourth quarter grew by 21% to $76 million, ahead of Wall Street's consensus estimate of $73 million. In addition, the online-event-management-and-ticketing company said it sees 2019 first-quarter revenue of between $80 million and $84 million, well shy of the $91 million that was anticipated.

The news sent Eventbrite shares briefly below their September initial public offering price of $23. They hit a low of $22.76 before reclaiming the $23 level.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Eventbrite stock plummets 20% after earnings miss, revenue beat
Source: MarketWatch - 🏆 3. / 97 Read more »

Kroger shares plunge after earnings, revenue missKroger reported earnings before the bell Thursday. If you have been to one you would know why. Low quality staff and unattractive stores. I went to their seafood department to a store in GA and asked for recommendation of shrimp. Attendant told me “I don’t know I don’t eat seafood.” 😳😳😳 🤦‍♂️ never been back sense! ❤️
Source: CNBC - 🏆 12. / 72 Read more »

Kohl's is rallying after giving rosy earnings guidanceKohl's gained 4.72% early Tuesday after posting better-than-expected fourth-quarter profits and giving rosy full-year earnings guidance.
Source: BusinessInsider - 🏆 729. / 51 Read more »

GNC shares jump premarket as news of new venture offsets earnings miss
Source: MarketWatch - 🏆 3. / 97 Read more »

Stocks making the biggest moves after hours: Costco, Eventbrite and moreSee which stocks are posting big moves after the bell on March 7.
Source: CNBC - 🏆 12. / 72 Read more »

Eventbrite lost one-third of its value after revealing merger struggles, now trading below IPO priceEventbrite lost one-third of its value after revealing struggles with Ticketfly merger, and is now trading below its IPO price They’re fresh on NYSE. It’s way to early to make negative conclusions of the newbie company on the stock market.
Source: CNBC - 🏆 12. / 72 Read more »