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Eventbrite swoons on missed 1Q expectations, low guidance

The online ticketing and events company posted a loss of nearly $10 million in the quarter
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Revenue grew 9.1% to $81.3 million year-over-year but fell short of Street expectations of $83 million

Eventbrite Inc (NYSE:EB) is reeling after reporting worse-than-expected first-quarter losses.

The online ticketing and events company posted a net loss of nearly $10 million, or $0.13 per share. Analysts had called for a $0.09 per share loss.

Investors were leaving the party, dropping shares nearly 33% to $16.23 in pre-market trading.

READ: Eventbrite goes public with strong demand for its shares, opens at US$33 on NYSE

Revenue grew 9.1% to $81.3 million year-over-year but fell short of Street expectations of $83 million. The company’s paid tickets increased more than 14% to 27 million.

Looking ahead, the San Francisco-based company projected second-quarter revenue to land between $74 million and $78 million, which would miss analysts’ estimates of $82.4 million even at the high end of the range.

Contact Andrew Kessel at [email protected]

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