StubHub Q2 Revenue Up, But Lack Of Big Events Hurts Gross Sales

StubHub during its Q2 that ended June 30 generated $236M in revenue, up 5% from the comparable period last year, according to earnings released late Thursday by corporate parent eBay. The company also posted $1B in gross sales, down 5%, as a lighter slate of U.S. events during the spring ate into growth internationally. StubHub’s revenue growth during the most recent period contrasts from the strong double-digit percentage gains seen each of the last three quarters, and eBay previously warned of growth deceleration for the ticket resale marketplace. “StubHub had a challenging quarter driven by continued lapping of strong growth comps coupled with the U.S. events landscape that was significantly weaker than we had anticipated,” said eBay President & CEO Devin Wenig. “Last year we benefited from record-setting events such as Hamilton and Copa America along with strong NBA and NHL postseasons and good performance of top-selling MLB teams, none of which repeated in Q2 of this year.”