StubHub shares pop on Q1 beat, reaffirmed full-year guidance

StubHub (NYSE:STUB) shares surged about 19% on Thursday morning after the ticketing marketplace reported first quarter results that topped Wall Street expectations on both revenue and profitability, while reaffirming its full-year outlook.

The company reported revenue of $446 million for the quarter ended March 31, 2026, up 12% year-over-year and above analyst expectations of about $425 million.

Gross merchandise sales rose 7% to $2.2 billion, reflecting steady demand across live events and resale activity.

StubHub swung to net income of $48 million, or $0.06 per share, compared with a net loss of $22.2 million in the same period a year earlier. Analysts had expected a loss of about $0.01 per share.

Adjusted EBITDA climbed to $72.1 million, up from $47.9 million a year earlier, with margins expanding more than 400 basis points to 16%.

The company also reported strong cash generation, with free cash flow of $290.6 million, nearly double the prior-year period.

Operating cash flow rose 88% year over year to $298.4 million. StubHub ended the quarter with $1.5 billion in cash and cash equivalents, alongside $1.0 billion in payments due to sellers.

The company continued to focus on balance sheet improvement, including a $100 million debt reduction completed in May.

“We delivered a positive start to 2026, and we believe we are on track to achieve our full year financial outlook,” StubHub CEO Eric Baker said, adding that the company is advancing initiatives such as open distribution and advertising to expand monetization and improve ticket access globally.

StubHub reiterated its full-year 2026 guidance, calling for gross merchandise sales between $9.9 billion and $10.1 billion and adjusted EBITDA of $400 million to $420 million.

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