Eventbrite stock plummets after weak guidance

Eventbrite Inc. shares plunged more than 20% in the extended session Wednesday after the company reported greater-than-expected losses and revenue that was just above consensus estimates. The online ticketing company reported first-quarter net losses of $10 million, or 13 cents a share, compared with net income of $9 million in the year-ago quarter. Eventbrite did not provide a per-share figure for the year-earlier quarter. Revenue rose to $81.3 million from $74.5 million in the year-ago period. Analysts surveyed by FactSet had estimated losses of 8 cents a share on revenue of $83.1 million. For the second quarter, analysts model losses of 6 cents a share and revenue of $82.4 million. Eventbrite said it expects revenue of $74 million to $78 million. Eventbrite stock has lost 15% in the past six months, as the S&P 500 index has gained 7.5%.

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