The New York Times Company's (NYT) digital advertising revenues decrease during first-quarter 2020. Management expects digital advertising revenues to decrease roughly 40-45% in the second quarter.
Shares of Eventbrite Inc. are up more than 8% in Tuesday morning trading after the company said it was capitalizing on growing interest in online events during the pandemic. Eventbrite disclosed that it sees nearly 20,000 online events published daily on its platform and that it witnessed a 2000% year-over-year increase in online events this April. "While this devastating public health crisis brought on by COVID-19 has ground the live experiences economy to a halt, we're encouraged by the increase in demand for online experiences as it shows our timeless need for human connection remains as strong as ever," Chief Executive Julia Hartz said in a release. The announcement comes after Eventbrite pulled its financial forecast in March and laid off 45% of its staff in April. Shares have declined 54% over the past three months as the S&P 500 has fallen 13%.
Ladies and gentlemen, thank you for standing by, and welcome to the Eventbrite first-quarter 2020 earnings conference call. Prior to this call, we released our shareholder letter announcing our financial results. Before we begin, I'd like to remind you that during today's call, we'll be making forward-looking statements regarding future events and financial performance, including providing our net revenue and non-GAAP adjusted EBITDA outlook for the first quarter and full-year 2020.
In this episode of MarketFoolery, Chris Hill chats with Motley Fool analyst Jason Moser about the latest earnings releases. There is a surprising new player in the e-commerce space. They discuss some April CPI figures and talk about some automobile, consumer apparel, live entertainment stocks and much more.
Stocks remained in a holding pattern on Tuesday morning, with investors still torn about what the future is likely to bring. Earnings reports for the first quarter haven't been as bad as many had feared, but there's almost no visibility about what the second quarter is likely to bring, and that has some market participants reluctant to put too much faith in the economy's resiliency in the face of the coronavirus pandemic. Many investors have turned to cloud computing stocks as a refuge from the coronavirus bear market, and there have been a lot of success stories in the space.
Shares of Eventbrite Inc. are up 24.5% in Monday afternoon trading and on track for their largest single-day increase on record if the gains hold through the close. The stock's largest single-day rally heading into Monday's session was a 23% gain on Nov. 8, 2019. Monday's stock surge comes after SunTrust Robinson Humphrey analyst Youssef Squali upgraded the stock to buy from hold, writing that shares had dropped 40% since the company's disappointing earnings report last week, which he deemed an "overreaction" even as the company suffers from event cancellations due to the pandemic. "While not out of the woods yet, Eventbrite's valuation has priced in the most extreme scenario, which is highly unlikely in our view," he wrote. "Current liquidity, financing from Francisco Prtrs, and cost cuts should enable Eventbrite to weather the crisis." Shares are still down 63% over the past three months as the S&P 500 has lost 12%.
The top executives of Eventbrite Inc. told Wall Street that the company will survive the pandemic through many steps it has taken, including a massive restructuring, but they are still pinning the future on live events ticketing, because ultimately people need to be around other people.
Eventbrite Inc (EB) delivered earnings and revenue surprises of -489.66% and -30.34%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Eventbrite, Inc. (NYSE: EB), a global self-service ticketing and experience technology platform, today announced the company has secured financing with Francisco Partners of up to $225 million. The investment will help fund the execution of the company’s long-term growth strategy, strengthen its liquidity position and provide greater flexibility to manage through a range of recovery scenarios and the return to live events.
As of late, it has definitely been a great time to be an investor in Eventbrite.
May.12 -- Eventbrite Inc. Chief Executive Officer Julia Hartz discusses the impact of the coronavirus pandemic on the events business with Bloomberg's Emily Chang.
Eventbrite Inc. shares were flat in after-hours trading Monday after the event-management services company reported fiscal first-quarter revenue and net income that missed Wall Street estimates. Eventbrite reported a loss of $146.5 million, or $1.71 a share, compared with a loss of $9.96 million, or 13 cents a share, in the year-ago quarter. Revenue fell 40% to $49.1 million from $81.3 million a year ago. With the shutdown of all major live events because of COVID-19, the San Francisco-based company announced a job reduction of 45% of its 1,000 employees in early April. On Monday, Eventbrite said it secured financing with Francisco Partners of up to $225 million. Analysts surveyed by FactSet had expected a loss of 25 cents a share on sales of $71.8 million. Eventbrite shares are down 42% in the last year. The broader S&P 500 index is up 4.2% in the last year.
Eventbrite, Inc. (EB) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Shares of Eventbrite (NYSE: EB), an event-management and ticket company, were climbing higher today after the stock received a buy recommendation. The company's share price shot up on Monday morning after SunTrust Robinson Humphrey upgraded the stock from hold to buy.
The U.S. death toll from the coronavirus that causes COVID-19 climbed above 81,000 on Tuesday, as President Donald Trump, defending his record on testing in the U.S., ended his White House news conference abruptly following an angry exchange with two reporters.
Shares of Eventbrite (NYSE: EB), an event-management and ticket company, fell today as news of a slowing U.S. economy spurred investors to sell the stock. Investors were already growing pessimistic about Eventbrite's stock after the company released its first-quarter financial results on Monday.
Shares of Eventbrite Inc. are off more than 23% in Tuesday trading and on track for their largest single-day percentage drop since May 2, 2019, when the shares plunged 27%. Tuesday's slide comes after the company posted weaker-than-expected results that highlighted the challenges of being a ticketing business given an uncertain future for live events. RBC Capital Markets analyst Mark Mahaney said that Eventbrite's paid ticketing business was "imploding" with 22 million paid tickets in the first quarter, down 18% from a year earlier. "More key, ticket volume declined 60% year-over-year in March full month and declined 90% year-over-year mid-month (similar to [online travel agency] room nights & rides declines) and has only recovered to 85% declines as of May," he wrote, while cutting his price target to $10 from $11 and reiterating a sector-perform rating. Shares have lost 62% over the past three months as the S&P 500 has declined 14%.
Eventbrite, Inc. (NYSE: EB), a global ticketing and experience technology platform, announced its financial results for the quarter ended March 31, 2020. You can find a detailed review of our financial results in the First Quarter 2020 Shareholder Letter posted on Eventbrite’s Investor Relations website at https://investor.eventbrite.com.
COVID-19 led to mass cancellations of events, but even with that expectation baked in, the event-management company's first-quarter performance was disappointing.
Eventbrite reports accelerated growth in online events, with nearly twenty thousand online events published a day.