AP/Jed Jacobsohn
- Eventbrite plunged more than 20% after falling short of Wall Street estimates for the fourth quarter and fiscal year 2019.
- The company is on track to open Friday at its lowest levels since October.
- Watch Eventbrite trade live.
Eventbrite missed Wall Street estimates for the fourth quarter, sending shares down more than 20%.
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 its sees 2019 first-quarter of between $80 million and $84 million, well shy of the $91 million that was anticipated.
Eventbrite shares are on track to open Friday’s session at their lowest price since October.
Markets Insider
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Source: Business Insider – areddy@businessinsider.com (Arjun Reddy)